Marel hf. (ICSE:MAREL) signed an agreement to acquire 50% stake in Curio Ehf. on October 23, 2019. The transaction is conducted in two phases; 40% at closing and the additional 10% on January 1, 2021. Marel also has an option to acquire the remaining 50% stake in four years. Ellidi Hreinsson founder of Curio will remain with Curio. Curio reported revenues of €10 million for the year ending December 31, 2018. The transaction is subject to customary closing conditions. As of November 8, 2019, Marel completed the acquisition of 40% stake in Curio. Curio's operational profit is expected to have a positive impact on Marel Fish EBIT margin when financials are consolidated from January 1, 2021. Marel hf. (ICSE:MAREL) completed the acquisition of 50% stake in Curio Ehf. on January 4, 2021.