icelandic food processing equipment manufacturer marel hf said late wednesday that it has agreed to buy usbased wenger manufacturing llc for 540 million wenger manufacturing makes processing equipment for producing pet food plantbased proteins and aqua feed and marel said the acquisition offers a new complementary growth market and will form the fourth business segment alongside poultry meat and fish wenger has 500 employees and revenues in 2022 are expected to be 190 million with earnings before interest tax depreciation and amortization of 32 million35 million and an earnings before interest and tax margin of 1415 the deal is expected to contribute around 10 of marels total revenues and 12 of ebitda it said tax benefits from the deal are seen at 60 million70 million the purchase price will be paid with cash at hand and existing credit facilities and talks with selling shareholders regarding partial consideration in marel shares is ongoing it said the price includes a 10 million contribution to a notforprofit private foundation to continue the legacy of wenger closing of the acquisition is subject to closing conditions including antitrust and shareholder approval of wenger which is expected to take place during the second quarter of 2022