The leadership of Laitram and Martak are delighted to announce the signing of a Definitive Agreement for Laitram Machinery to acquire substantially all the assets of Martak’s shrimp peeling business line.
Laitram Machinery has recently finalized the acquisition of Martak's shrimp peeling business line. Both companies' leadership expressed enthusiasm for this strategic collaboration, emphasizing its positive impact on their core competencies and the enhanced services they can provide to their customer base. This significant move promises to improve the shrimp processing industry's landscape, especially for the Cold-Water Shrimp Market.
The wild-caught shrimp industry was revolutionized over 70 years ago by J.M. Lapeyre, who invented the first automatic shrimp peeler, marking Laitram 's origin story. To this date, it is an integral part of the Laitram Machinery business.
James Lapeyre, President of Laitram Machinery, said, “we believe that by joining these leading operations, both companies can focus on their respective core competencies, and the resultant combination will provide the scale and resources that will better serve our customer base in the years to come.”
Martak will exit the shrimp peeler manufacturing and services business. Noel Sheehan, CEO of Martak, added that “this combination will bring renewed innovation and efficiency for our mutual customers in the shrimp processing market, along with a commitment to the highest standards of reliability and service.”
A key highlight of this acquisition is integrating the Martak team into Laitram Machinery, bringing with them an impressive 40 years of service history and know-how. This addition complements Laitram’s already robust 75-year dedication to the seafood industry. Thanks to the newfound scale and resources at their disposal, the resulting organization is poised to offer more cost-effective solutions for customers.
The acquisition of Martak's shrimp peeling business by Laitram Machinery marks a strategic milestone that promises enhanced innovation, efficiency, and customer service in the seafood industry. The acquisition reflects the companies' commitment to growth and providing valuable shrimp processing solutions on a global scale.
