Elgin-based Middleby Corp. reported net earnings for the second quarter of 2023. Net sales increased 2.6% in the second quarter over the comparative prior year period.
Elgin-based Middleby Corp. said it acquired Marco Beverage Systems, a designer and manufacturer of beverage dispense solutions based in Dublin, Ireland.
Elgin-based Middleby Corp. Thursday announced the acquisition of Icetro, a maker of ice, soft serve ice cream and slush machines used by restaurants and food service operators.
Middleby acquires Belgian appliance brand Novy dailyherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyherald.com Daily Mail and Mail on Sunday newspapers.
Posted4/21/2021 2:41 PM
ELGIN Middleby Corp. said it has agreed to acquire Welbilt Inc., a maker of culinary equipment and solutions, in an all-stock transaction.
Under the terms of the agreement, Welbilt shareholders will receive a fixed exchange ratio of 0.124 shares of Middleby common stock for each share of Welbilt common stock, with an implied enterprise value of $4.3 billion.
The transaction will bring together two complementary businesses, enhancing the Middleby Commercial Foodservice platform with an attractive portfolio of products, brands and technologies, the company said.
Based in New Port Richey, Florida, Welbilt s product brands includes Cleveland, Convotherm, Frymaster and Manitowoc. These product brands are supported by Welbilt s three service brands: KitchenCare, its aftermarket parts and service brand; FitKitchen, its fully integrated kitchen systems brand; and KitchenConnect, its cloud-based digital platform brand.