Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, March 1, 2024

Article Excerpt

MIDDLEBY CORP., $154.15, symbol MIDD on Nasdaq, designs, manufactures, markets, distributes and services a broad line of (i) foodservice equipment for all types of commercial restaurants and institutional kitchens, (ii) food preparation, cooking, baking, chilling and packaging equipment for food-processing operations, and (iii) premium kitchen equipment, including ranges, ovens, refrigerators, ventilation, dishwashers and outdoor cooking equipment, primarily used in the residential market. The company owns over 120 brands, including TurboChef, Follett, Star, Viking Range, AGA, and Armor Inox. Founded in 1888 as a manufacturer of baking ovens, Middleby Marshall Oven Company was acquired in 1983 by TMC Industries Ltd., a publicly traded company that changed its name in 1985 to The Middleby Corporation. Middleby has made several successful acquisitions over the last few years. Most recently, on February 7, 2024, the company announced the acquisition of GBT GmnH Bakery Technology. That firm is a German company specializing in engineering and manufacturing high-grade industrial baking and bread lines. Its latest annual revenue was 10 million…