Eyrir became the principal shareholder in Marel in 2005, marking the beginning of a transformative period in the company’s history.  Arni Thordarson served as Chairman of the Board of Marel from 2005 to 2013 before assuming the role of CEO for the following decade. Marel with a clear vision and passionated team evolved into a global leader in food processing solutions and services.

Between 2005 and 2023, Marel increased revenues from €129 million to €1.7 billion. This growth was driven by a strong focus on continues innovation, customer proximity and strategic acquisitions that reshaped both the company and the industry.

Over the same period, Marel transformed its service model from reactive to proactive and ultimately preventive one. Recurring service revenues grew from approximately 10% of total revenues in 2005 to nearly 50% by 2023, strengthening customer relationships and improving business resilience for the value chain and the company.

A key source of pride throughout this journey has been the ability to unite a diverse international team behind a clear vision and strong values. Guided by passion and purpose, Marel expanded from 700 to 7,000 employees across more than 30 countries, while delivering shareholder returns in line with leading global market indices. At the beginning of 2025, JBT Marel Corporation was formed through the merger of JBT and Marel, bringing together a global team of approximately 12,000 employees with a shared vision to transform the future of food. JBT Marel Corporation is targeting revenues of $4 billion in 2026, with shares listed on the NYSE and Nasdaq Iceland. The merger was fully supported by Eyrir as Marel’s principal shareholder.