Marel hf. - Company Announcement

Marel divests its high speed slicing business in the U.K.

Marel today announces the divestment of its High Speed Slicing business, in
particular the bacon and deli slicing businesses based in Norwich, United
Kingdom. Marel will retain the frozen portioning and robotics product families,
which remain of strategic importance to Marel. 

The divestment is an important step in Marel´s refocusing program as it will
increase focus on Marel´s core product offering. The deli and bacon slicing
business has revenue of approximately 10M EUR per year. 

The Middleby Corporation will be the acquirer of this business and closing of
the transaction is expected before the end of first quarter 2015. Middleby is a
global leader in the foodservice equipment industry and develops, manufactures,
markets and services a broad line of equipment used in the commercial
foodservice, food processing, and residential kitchen equipment industries.