Eyrir Invest hf. celebrates its 25th anniversary this year and marks an important milestone in its history.
At the Annual General Meeting of Eyrir Invest on 27 March 2025, the Board’s proposal to reduce share capital with payment to shareholders was approved by all shareholder of the company. The proposal was in line with the outcome of a voluntary offer made to shareholders to participate in the planned share capital reduction. Approximately 91% of outstanding share capital was tendered in the offer with all shareholders choosing to participate, either partially or in full.
Eyrir Invest was founded in 2000 by Þórður Magnússon and Árni Oddur Þórðarson. Over time, additional shareholders joined the company, including high-net-worth individuals and institutional investors. Following the share capital reduction, the founders of Eyrir Invest will become the company’s sole shareholders, each holding an equal stake — Þórður Magnússon in his name, and Árni Oddur Þórðarson through his wholly owned holding companies, Sex álnir ehf. and 12 Fet ehf.
“We welcome the decision of the Annual General Meeting, which we believe is a successful outcome for all shareholders. This marks an important milestone in the history of Eyrir Invest. On behalf of the Board, I would like to thank our shareholders and partners for their valuable cooperation in recent years, and look forward to following the company’s future journey,” says Friðrik Jóhannsson, Chairman of Eyrir Invest.
The consideration for the capital reduction is in the form of shares in JBT Marel Corporation and Fræ Capital hf., proportional to the shareholders’ shareholding. The company will distribute 3,032,714 shares in JBT Marel to its shareholders, and following the settlement, it will hold 284,948 shares, corresponding to a 0.55% stake in JBT Marel. In January, Eyrir Invest repaid all its obligations to its lenders and is debt-free
Eyrir Invest established the company Fræ Capital with the purpose of taking over its venture operations and to simplify the settlement process with its shareholders. Fræ Capital now holds stakes in unlisted companies and funds that were previously owned by Eyrir. Fræ Capital is well funded and in a strong position for the future.
Eyrir Invest was the principal shareholder in Marel from 2005 and played a significant role in the company’s growth and development. In the past two decades, Marel’s revenue increased from €129 million to over €1.7 billion, and the number of employees grew 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 was in line with Eyrir Invest’s long-term vision for Marel’s growth and development. The combined company, JBT Marel, is a leading global provider of equipment, integrated technologies, and services for the food and beverage industry.
The Board of Eyrir Invest was re-elected at the Annual General Meeting, but following the settlement with departing shareholders, a shareholders’ meeting where a new Board will take over.
