Following the successful merger of Marel hf. and John Bean Technologies Corporation, Eyrir Invest is now one of the largest shareholders in JBT Marel Corporation, with a 6.6% shareholding. Eyrir Invest has repaid all its obligations to its lenders and is now debt-free, demonstrating the company’s strength at this pivotal moment.
The merger between Marel and JBT, supported by Eyrir Invest, establishes a robust foundation for the future growth of the united company. JBT Marel is a leading global provider of equipment, integrated technology and services to the food and beverage industry. The company’s vision is to transform the future of food. JBT Marel’s trailing 12-month revenue is around $3.5 billion, with an employee base of around 12,000, operating in over 30 countries. The company’s shares are listed on NYSE with a secondary listing on Nasdaq Iceland.
“This is an exciting milestone for Eyrir Invest, Marel and JBT. We are proud to have been part of this unique journey, culminating in this successful outcome, and we look forward to observing the future of this outstanding company,” says Friðrik Jóhannsson, Chairman of Eyrir Invest.
Eyrir Invest was the principal shareholder in Marel from 2005 and played a significant role in the company’s growth and development. Over the last two decades, Marel’s revenue grew from €129 million to over €1.7 billion, and the number of employees increased from 800 to over 7,000 across more than 30 countries. During this period, Marel’s shareholder return was comparable to the best-performing US and European stock indices. The merger of Marel and JBT aligns with Eyrir Invest’s long-term vision for Marel’s growth and development.
Eyrir Invest’s shareholder base consists of high-net-worth individuals and institutional investors who have consistently supported the company throughout its journey. To ensure continued transparency and dialogue with shareholders, Eyrir Invest will hold a shareholder meeting in February. Recent developments will be discussed at the meeting, and the board’s proposal for the next steps presented. Shares in JBT Marel account for around 90% of the company’s assets.
About Eyrir Invest
Eyrir Invest hf. is an international investment company founded in 2000 by Þórður Magnússon and Árni Oddur Þórðarson. The company focuses on investments in companies that have the potential to become sustainable global leaders. In addition to its investment in Marel, another important investment was in Össur hf., now Embla Medical hf., where Eyrir Invest was a major shareholder from 2004 to 2011. Eyrir Invest played a key role in supporting the growth and global expansion of these companies. Eyrir Invest has also made significant investments in startup and growth companies, both directly and through specialized investment funds.
