Processsing equipment maker Marel has signed a deal to acquire a 50 percent stake in whitefish equipment supplier Curio.
The deal is expected to close in fourth quarter.
"The transaction is in line with Marel’s strategic objective to be a full-line supplier with standard and modular building blocks of advanced food processing solutions across the fish, meat and poultry industries," the company said in a statement.
Iceland-based Marel was particularly interested in Curio’s heading, filleting and skinning equipment.
The companies have a history of working together in partnership to deliver full lines of processing machinery.
Marel's move for half of Curio comes as the company posts a 25 percent increase in third quarter net earnings to €33.4 million ($37.1 million). Sales rose 11 percent to €312.5 million ($347.5 million).
Orders in the third quarter ran to €285 million ($316.9 million), up 6.5 percent from a year earlier.