Marel has announced that it is to sell subsidiary Stork Food and Dairy Systems to Dutch investor Nimbus as part of a strategy to focus on its core processing segments.

The Icelandic company says it has reached an agreement to off-load Stork’s food and dairy unit – excluding its operations in Spain – after deciding the outfit was non-core to its business. Marel says it will incur a loss of £14.4 million (£16.4m) ‘due the write off of goodwill and revalued assets’ as a result of the sale.