US Market News
3月前
Middleby Names Mark Salman to Lead Food Processing Business as Chief Executive Officer; Mark Bowie Named Chief Operating OfficerFebruary 26, 2026 6:30 AM
Business Wire
Current Food Processing President to Assume CEO Role Upon Completion of Q2 2026 Spin-Off
The Middleby Corporation (NASDAQ: MIDD), a global leader in the foodservice industry, today announced that Mark Salman, currently President of the Middleby Food Processing Group (FPG), will serve as Chief Executive Officer of the Food Processing business when it becomes an independent public company in the second quarter of 2026. It was also announced that Mark Bowie will serve as the Chief Operating Officer of the Food Processing business upon the completion of the spin-off transaction.
Mr. Salman will continue in his current role as President of Middleby FPG during the separation process and will assume the CEO position effective upon the completion of the spin-off transaction. Under his leadership, the Food Processing segment has demonstrated exceptional performance, achieving industry-leading adjusted EBITDA margins and generating $850 million in revenue in 2025.
“Mark has been instrumental in building our Food Processing business into the industry-leading platform it is today,” said Tim FitzGerald, Middleby CEO. “His deep understanding of our customers' needs, proven track record of operational excellence, and strategic vision make him the ideal leader to guide this business through its transformation into an independent public company. Mark's leadership has been central to our success in delivering comprehensive automation solutions that address the evolving challenges facing food processors globally.”
As President of Middleby FPG since 2018, Mr. Salman has overseen the integration of 16 strategic acquisitions representing approximately $300 million in combined annual revenues. These strategic additions, combined with strong organic growth, have expanded the business from $390 million in revenue in 2018 to $850 million in 2025. His leadership has been pivotal in developing total line solutions for industrial protein, bakery, and snack processors, while maintaining best-in-class financial performance. This successful expansion has established the Food Processing business as a leading automated solutions provider serving customers across multiple continents with an unmatched portfolio of industry-leading brands.
"I am honored to lead this exceptional team and business as we embark on this exciting new chapter," said Mark Salman, Middleby Food Processing Group President. "Our Food Processing business is uniquely positioned with industry-leading brands, innovative automation technologies, and a robust pipeline of growth opportunities. As an independent company, we will have enhanced focus and flexibility to accelerate our growth strategy, expand into adjacent markets, and continue delivering the innovative solutions our customers depend on to drive their success."
Additionally, Mark Bowie has been named Chief Operating Officer of the Food Processing business. Joining Middleby Food Processing earlier this year, Mark brings more than 25 years of diverse manufacturing expertise and proven leadership to Middleby Food Processing. He has public company experience and has led organizations through significant business shifts throughout his career. Prior to joining Middleby Food Processing, he was CEO of In-Place Machining, and before that CEO at LPW Group. He has also held senior roles with JBT Corporation and CIRCOR’s fluid handling business, which was acquired by CIRCOR from Colfax Corporation.
The spin-off, which remains on track for completion in the second quarter of 2026, is part of Middleby's strategic portfolio transformation designed to maximize shareholder value by creating three focused, industry-leading businesses. The separation will enable the Food Processing business to pursue its own capital allocation strategy, optimize its capital structure, and accelerate growth through strategic investments and acquisitions.
About The Middleby Corporation
The Middleby Corporation is a global leader in the foodservice industry. The company develops and manufactures a broad line of solutions used in commercial foodservice and food processing. Middleby showcases its advanced solutions in the Middleby Innovation Kitchens for commercial foodservice, and industrial baking and protein Innovation Centers for food processing solutions. For more information about Middleby, please visit www.middleby.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release or otherwise attributable to the company regarding the company's business which are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our expectations with respect to our future performance and the outcome of our strategic review. The company cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors that could cause actual results to differ materially from such statements. Such factors include variability in financing costs; quarterly variations in operating results; dependence on key customers; international exposure; foreign exchange and political risks affecting international sales; changing market conditions; the impact of competitive products and pricing; the timely development and market acceptance of the company's products; the availability and cost of raw materials; and other risks detailed herein and from time-to-time in the company's SEC filings, including the possibility that the proposed spin-off of Middleby’s Food Processing business (“FP” or “FP business”) will not be consummated within the anticipated time period or at all, including as the result of regulatory, market or other factors, including the possibility that various closing conditions for the spin-off may not be satisfied; the potential disruption to Middleby’s business in connection with the proposed transaction or spin-off; the potential that the FP business and Middleby do not realize all of the expected benefits of the spin-off; that the spin-off may be more difficult, time consuming or costly than expected; the failure of the spin-off to qualify for the expected tax treatment; potential adverse effects of the announcement of the proposed FP spin-off or results thereof, including on the market price of Middleby’s common stock, the ability of Middleby to develop and maintain relationships with personnel, customers, suppliers and others with whom it does business or Middleby’s business, financial condition, results of operations and financial performance; and risks related to diversion of Middleby’s management’s attention from its ongoing business operations due to the transaction and the proposed FP spin-off. Any forward-looking statement speaks only as of the date hereof, and the company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260226847255/en/
Investors:
Rebecca Ellin
SVP of Investor Strategy and Corporate Development
rellin@middleby.com
Media:
Darcy Bretz
VP of Corporate Communications
dbretz@middleby.com
Kate Schneiderman
Managing Director, ICR
middleby@icrinc.com
Original: Middleby Names Mark Salman to Lead Food Processing Business as Chief Executive Officer; Mark Bowie Named Chief Operating Officer
US Market News
4月前
Middleby Appoints Christopher Hix To Board of DirectorsFebruary 4, 2026 4:15 PM
Business Wire
The Middleby Corporation (NASDAQ: MIDD), a global leader in the foodservice industry, today announced the appointment of Christopher Hix to its Board of Directors, effective February 1. With the addition of Mr. Hix, the Middleby Board expands to eleven members.
“We are pleased to welcome Chris to the Middleby Board,” said Tim FitzGerald, Middleby CEO. “His deep financial experience across multiple industries and proven track record of driving shareholder value through corporate transformations make him an ideal addition, particularly as we transform into a leading, pure-play commercial foodservice equipment company. His expertise will be particularly valuable to the Company as we focus on operations, long-term sustainable growth, and overall value creation.”
Mr. Hix is a seasoned public company director and executive with more than 30 years of experience in a variety of industries. Most recently he served as Executive Vice President and Chief Financial Officer of Enovis Corporation, the medical technology business of Colfax Corporation. Prior to Enovis, he served as Chief Financial Officer of Colfax, where he collaborated with the executive team to transform the business into a less cyclical, higher-growth entity, improving both margins and cash flow. In this role, he divested two cyclical industrial business segments, acquired and financed a new growth platform in the medical devices space, and executed several bolt-on acquisitions to enhance growth opportunities before splitting the company into two independent public companies. Mr. Hix also serves on the Board of Directors of Brady Corporation, where he is Chairman of the Audit Committee. He previously served on the Board of Directors of ESAB Corporation.
“The appointment of Chris to the Middleby Board reflects our commitment to strengthening the Board with complementary expertise as Middleby enters its next chapter as a pure-play commercial foodservice equipment company,” said Gordon O’Brien, Middleby Board Chairman. “His unique financial and operational background, particularly his experience leading complex corporate transformations, makes him an ideal addition as we execute our strategic plan. We are confident Chris will bring valuable perspective to support our operational initiatives and drive long-term shareholder value.”
About The Middleby Corporation
The Middleby Corporation is a global leader in the foodservice industry. The company develops and manufactures a broad line of solutions used in commercial foodservice and food processing. Middleby showcases its advanced solutions in the Middleby Innovation Kitchens for commercial foodservice, and industrial baking and protein Innovation Centers for food processing solutions. For more information about Middleby, please visit www.middleby.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260204788146/en/
Investors:
Rebecca Ellin
SVP of Investor Strategy and Corporate Development
rellin@middleby.com
Media:
Darcy Bretz
VP of Corporate Communications
dbretz@middleby.com
Kate Schneiderman
Managing Director, ICR
middleby@icrinc.com
Original: Middleby Appoints Christopher Hix To Board of Directors
US Market News
4月前
Middleby Announces Completion of Transaction to Sell 51% Stake in Residential Kitchen Business to 26NorthFebruary 2, 2026 4:15 PM
Business Wire
Transforms Middleby into Pure-Play Commercial Foodservice Leader Following Planned Food Processing Spin-Off
$540 Million in Cash Proceeds Enhances Ongoing Capital Return Program Following Approximately $720 Million Returned to Shareholders in 2025
Shares Outstanding Reduced By Approximately 9% in 2025
The Middleby Corporation (“Middleby”) (NASDAQ: MIDD) today announced the completion of the previously announced transaction to sell a 51% stake in its Residential Kitchen business to an affiliate of 26North Partners LP (“26North”).
“The completion of this transaction is the first step in Middleby’s transformation into a pure-play commercial foodservice equipment company with a comprehensive portfolio of leading commercial foodservice products poised to address attractive market opportunities. This transformation positions Middleby for higher growth as an industry leader in automation and innovation,” said Tim FitzGerald, Chief Executive Officer of Middleby. “Over the past 12 months, the Middleby team has accelerated our portfolio transformation, including announcing the spin-off of Middleby Food Processing, while investing in organic growth opportunities and returning capital to shareholders.”
This transaction, combined with the planned spin-off of Middleby’s Food Processing business, represents the culmination of a comprehensive strategic portfolio review designed to maximize shareholder value. Following both transactions, Middleby will emerge as a pure-play commercial foodservice equipment leader with enhanced focus, higher margins, and superior returns. The Commercial Foodservice business is well positioned to capture growth opportunities driven by automation, expanded IoT capabilities, and from demand in newly entered addressable markets, including with ice and beverage solutions. Our leading platform is delivering customer-centric solutions that drive labor savings, reduce food costs, and maximize kitchen efficiency, while effectively responding to emerging trends across the restaurant industry.
Under the completed transaction, Middleby owns a 49% non-controlling interest in the new standalone joint venture holding the Residential Kitchen business, while receiving cash proceeds of approximately $540 million and holding a $135 million seller note provided to the joint venture. The primary use of cash proceeds will be to repurchase shares and optimize the capital structure ahead of the food processing spin-off.
In anticipation of the proceeds from the transaction, Middleby repurchased 1.5 million shares for $218 million during the fourth quarter of 2025, resulting in a total capital return to shareholders of approximately $720 million in 2025 and a reduction of shares outstanding of approximately 9%. In the month ending January 31, 2026, Middleby repurchased additional stock valued at $152 million.
Starting in the fourth quarter of 2025, Middleby will report the Residential Kitchen business as a discontinued operation. The income from the joint venture will be reported on the income statement as minority interest, which Middleby intends to exclude from the adjusted earnings and adjusted EPS calculations as it is no longer a part of core operations. Additional details will be provided when Middleby reports fourth quarter 2025 earnings.
About Middleby
The Middleby Corporation is a global leader in the foodservice industry. The company develops and manufactures a broad line of solutions used in commercial foodservice and food processing. Middleby showcases its advanced solutions in the Middleby Innovation Kitchens for commercial foodservice, industrial baking and protein Innovation Centers for food processing solutions. For more information about Middleby, please visit www.middleby.com.
About 26North
26North Partners LP is an integrated, multi-asset-class investment platform founded by Josh Harris that provides investment advice and opportunities to its clients across private equity, credit, insurance and reinsurance strategies.
The 26North team brings decades of experience managing third-party capital to help clients achieve their financial goals while making a lasting impact on the communities in which they operate. Since launching in 2022, 26North has grown to over $32 billion in assets under management.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the negative of those words or other comparable terminology. Such forward-looking statements, including those regarding the timing and consummation of the transactions described herein, involve known and unknown risks, uncertainties and other factors, which could cause Middleby’s actual results, performance or outcomes to differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statements in this press release are based on numerous assumptions regarding the present and future business strategies of Middleby, 26North and the Residential Kitchen business and the environment in which each will operate in the future. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but are not limited to, the following factors: the ability to achieve the expected benefits from the transaction within the time frames indicated or at all, and that the separation of the operations of the Residential Kitchen business from Middleby’s other operations may be more difficult or costly than expected; the risk that the conditions to the closing of the transaction are not satisfied, including the risk that required approvals of the transaction are not obtained; litigation relating to the transaction; uncertainties as to the timing of the consummation of the transaction and the ability of each party to consummate the transaction; risks that the proposed transaction disrupts the current plans or operations of Middleby or 26North; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to relationships with customers, suppliers, distributors and other business partners resulting from the announcement or completion of the transaction; dependence on key customers; delays, challenges and expenses associated with separation of the operations of the Residential Kitchen business; legislative, regulatory and economic developments; volatility in earnings resulting from goodwill impairment losses, which may occur irregularly and in varying amounts; variability in financing costs and interest rates; quarterly variations in operating results; risks associated with Middleby’s foreign operations, including international exposure, political risks affecting international sales, market acceptance and demand for Middleby’s products and Middleby’s ability to manage the risk associated with the exposure to foreign currency exchange rate fluctuations; Middleby’s ability to protect its trademarks, copyrights and other intellectual property; changing market conditions, including inflation; the impact of competitive products and pricing; the state of the residential construction, housing and home improvement markets; the state of the credit markets, including mortgages, home equity loans and consumer credit; intense competition in Middleby’s business segments, including the impact of both new and established global competitors; unfavorable tax law changes and tax authority rulings; cybersecurity attacks and other breaches in security; the continued ability to realize profitable growth through the sourcing and completion of strategic acquisitions; the timely development and market acceptance of Middleby’s products; the availability and cost of raw materials; the possibility that the proposed spin-off of Middleby’s Food Processing business (“FP” or “FP business”) will not be consummated within the anticipated time period or at all, including as the result of regulatory, market or other factors, including the possibility that various closing conditions for the spin-off may not be satisfied; the potential disruption to Middleby’s business in connection with the proposed transaction or spin-off; the potential that the FP business and Middleby do not realize all of the expected benefits of the spin-off; that the spin-off may be more difficult, time consuming or costly than expected; the failure of the spin-off to qualify for the expected tax treatment; potential adverse effects of the announcement of the proposed FP spin-off or results thereof, including on the market price of Middleby’s common stock, the ability of Middleby to develop and maintain relationships with personnel, customers, suppliers and others with whom it does business or Middleby’s business, financial condition, results of operations and financial performance; and risks related to diversion of Middleby’s management’s attention from its ongoing business operations due to the transaction and the proposed FP spin-off. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. Other factors that might cause such a difference include those discussed in Middleby’s filings with the Securities and Exchange Commission (the “SEC”), which include its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. For more information, see the section entitled “Risk Factors” and the forward looking statements disclosure contained in Middleby’s Annual Reports on Form 10-K and in other filings. The forward-looking statements included in this press release are made only as of the date hereof and, except as required by federal securities laws and rules and regulations of the SEC, Middleby and 26North undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260202491006/en/
For The Middleby Corporation:
Investors:
Rebecca Ellin
SVP of Investor Strategy and Corporate Development
rellin@middleby.com
Media:
Darcy Bretz
VP of Corporate Communications
dbretz@middleby.com
Kate Schneiderman
Managing Director, ICR
middleby@icrinc.com
For 26North
Cristina Alesci
26North
917 692 2110
calesci@26n.com
Original: Middleby Announces Completion of Transaction to Sell 51% Stake in Residential Kitchen Business to 26North
US Market News
4月前
26North Completes Transaction for Majority Stake in Middleby’s Residential Kitchen Unit and Rebrands the Business as Composition BrandsFebruary 2, 2026 4:21 PM
Business Wire
26North Partners LP (“26North”) and The Middleby Corporation (“Middleby”) (NASDAQ: MIDD) announced that affiliates of 26North completed an acquisition of a controlling interest in Middleby’s Residential Kitchen business. Middleby will retain a significant non-controlling ownership stake as part of the joint venture. Upon closing, the business has been rebranded as Composition Brands, marking its next chapter as an independent platform of iconic premium and ultra-luxury residential kitchen and outdoor living brands.
Composition Brands is home to a curated collection of category-defining names, including Viking, AGA, Rangemaster, La Cornue, Lynx and U-Line. The new identity reflects a portfolio united by craftsmanship, thoughtful design and dependable performance, while preserving the individuality and heritage that have defined these brands for generations.
“Alongside the management team and Middleby, we’ve started the work needed to ensure Composition reaches its full potential as a standalone company,” said 26North Partner and Head of Private Equity Mark Weinberg. “Our focus is straightforward: support these market-leading brands with the resources, operating rigor and long-term perspective to strengthen performance and customer experience over time.”
Since signing the transaction, 26North has worked closely with Middleby and the Composition Brands leadership team through an extensive transition and planning process focused on continuity for employees, partners and customers, while establishing a strong foundation for the company’s next phase of ambitious growth.
Composition Brands will continue supporting partners across the residential ecosystem, including dealers, designers, architects and homeowners, with products and experiences shaped by design leadership, attentive service and uncompromising quality.
“Operating as an agile, independent company sets a higher standard for excellence,” said Composition Brands’ Chief Executive Officer Brody Connolly. “We can move faster to strengthen product performance, accelerate innovation and build shared capabilities that elevate every brand in the portfolio. That clarity of purpose will help us shape the next generation of luxury residential kitchens and outdoor living.”
About 26North
26North Partners LP is an integrated, multi-asset-class investment platform founded by Josh Harris that provides investment advice and opportunities to its clients across private equity, credit, insurance and reinsurance strategies.
The 26North team brings decades of experience managing third-party capital to help clients achieve their financial goals while making a lasting impact on the communities in which they operate.
Since launching in 2022, 26North has grown to over $32 billion in assets under management.
About Composition Brands
Composition Brands is an independent residential kitchen and outdoor living platform, home to a curated portfolio of premium and ultra-luxury brands. The company’s portfolio includes Viking, AGA, Rangemaster, La Cornue, Lynx and U-Line.
Composition Brands is committed to the long-term stewardship of distinctive brands defined by craftsmanship, thoughtful design and dependable performance, and to supporting partners across its ecosystem, including dealers, designers, architects, and homeowners. For more information on Composition Brands, please visit https://compositionbrands.com/.
About Middleby
The Middleby Corporation is a global leader in the foodservice industry. The company develops and manufactures a broad line of solutions used in commercial foodservice and food processing. Middleby showcases its advanced solutions in the Middleby Innovation Kitchens for commercial foodservice, industrial baking and protein Innovation Centers for food processing solutions. For more information about Middleby, please visit www.middleby.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260202412606/en/
For 26North
Cristina Alesci
Managing Director
917 692 2110
calesci@26n.com
For The Middleby Corporation:
Investors:
Rebecca Ellin
SVP of Investor Strategy and Corporate Development
rellin@middleby.com
Media:
Darcy Bretz
VP of Corporate Communications
dbretz@middleby.com
Kate Schneiderman
Managing Director
ICR
Kate.Schneiderman@icrinc.com
Original: 26North Completes Transaction for Majority Stake in Middleby’s Residential Kitchen Unit and Rebrands the Business as Composition Brands
abrooklyn
2年前
The Middleby Corporation Reports First Quarter Results
Source: Business Wire
Net sales of $927 million
Adjusted EBITDA of $186 million
Organic adjusted EBITDA margin of 20.1%
Operating cash flows of $141 million
Diluted earnings per share of $1.59 and adjusted net earnings per share of $1.89
Net leverage reduced to 2.4x
The Middleby Corporation (NASDAQ: MIDD), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today reported net earnings for the first quarter of 2024.
“Near-term demand conditions proved to be difficult as we started 2024. We expect improved conditions for the second quarter and remain optimistic for the remainder of the year, as channel inventories have returned to normalized levels and order activity is trending in a positive direction. Our overall profitability remains strong, despite the low order volumes significantly impacting our residential business. We were pleased to again post record cash flows in the quarter, with expected strong cash generation for the entire year,” said Tim FitzGerald, CEO of The Middleby Corporation.
2024 First Quarter Financial Results
Net sales decreased 8.0% in the first quarter over the comparative prior year period. Excluding the impacts of acquisitions and foreign exchange rates, sales decreased 8.7% in the first quarter over the comparative prior year period.
A reconciliation of organic net sales (a non-GAAP measure) by segment is as follows:
Commercial Foodservice
Residential Kitchen
Food Processing
Total Company
Reported Net Sales Growth
(3.8
)%
(21.0
)%
(6.2
)%
(8.0
)%
Acquisitions
0.2
%
0.5
%
1.0
%
0.4
%
Foreign Exchange Rates
0.2
%
0.9
%
0.4
%
0.4
%
Organic Net Sales Growth (1) (2)
(4.2
)%
(22.3
)%
(7.7
)%
(8.7
)%
(1) Organic net sales growth defined as total sales growth excluding impact of acquisitions and foreign exchange rates
(2) Totals may be impacted by rounding
Adjusted EBITDA (a non-GAAP measure) was $185.8 million in the first quarter compared to $210.9 million in the prior year. A reconciliation of organic adjusted EBITDA (a non-GAAP measure) by segment is as follows:
Commercial Foodservice
Residential Kitchen
Food Processing
Total Company
Adjusted EBITDA
26.0
%
6.4
%
23.4
%
20.0
%
Acquisitions
(0.1
)%
0.1
%
(0.4
)%
(0.1
)%
Foreign Exchange Rates
(0.1
)%
—
%
—
%
(0.1
)%
Organic Adjusted EBITDA (1) (2)
26.1
%
6.3
%
23.8
%
20.1
%
(1) Organic Adjusted EBITDA defined as Adjusted EBITDA excluding impact of acquisitions and foreign exchange rates.
(2) Totals may be impacted by rounding
Operating cash flows during the first quarter amounted to $140.9 million in comparison to $92.0 million in the prior year period. The total leverage ratio per our credit agreements was 2.4x. The trailing twelve month bank agreement pro-forma EBITDA was $901.3 million.
Net debt, defined as debt excluding the unamortized discount associated with the Convertible Notes less cash, at the end of the 2024 first quarter amounted to $2.1 billion as compared to $2.2 billion at the end of fiscal 2023. Our borrowing availability at the end of the first quarter was approximately $2.8 billion.
"We are excited to be showcasing many of our latest Commercial Foodservice innovations at the upcoming National Restaurant Show to be held from May 18th through 21st in Chicago. This year we are proud to have a record eight Middleby products receiving the prestigious Kitchen Innovations Award. Our award-winning products include the latest in automation & robotics, beverage dispense, ventless solutions, and advanced cooking & frying technologies. Our recent product launches of industry leading innovations addressing foodservice trends and operator challenges has positioned us to serve the rapidly evolving needs of the foodservice industry,” concluded Mr. FitzGerald.
Conference Call
The company has scheduled a conference call to discuss the first quarter results at 11 a.m. Eastern/10 a.m. Central Time on May 8th. The conference call is accessible through the Investor Relations section of the company website at www.middleby.com. If website access is not available, attendees can join the conference by dialing (833) 630-1956, or (412) 317-1837 for international access, and ask to join the Middleby conference call. The conference call will be available for replay from the company’s website.
Statements in this press release or otherwise attributable to the company regarding the company's business which are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The company cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors that could cause actual results to differ materially from such statements. Such factors include variability in financing costs; quarterly variations in operating results; dependence on key customers; international exposure; foreign exchange and political risks affecting international sales; changing market conditions; the impact of competitive products and pricing; the timely development and market acceptance of the company's products; the availability and cost of raw materials; and other risks detailed herein and from time-to-time in the company's SEC filings. Any forward-looking statement speaks only as of the date hereof, and the company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
The Middleby Corporation is a global leader in the foodservice industry. The company develops and manufactures a broad line of solutions used in commercial foodservice, food processing, and residential kitchens. Supporting the company’s pursuit of the most sophisticated innovation, state-of-the-art Middleby Innovation Kitchens and Residential Showrooms showcase and demonstrate the most advanced Middleby solutions. In 2022 Middleby was named a World’s Best Employer by Forbes and is a proud philanthropic partner to organizations addressing food insecurity.
Penny Roger$
14年前
The Middleby Corporation (Middleby), through its operating subsidiary Middleby Marshall Inc. (Middleby Marshall) and its subsidiaries, is engaged in the design, manufacture, marketing, distribution, and service of a line of cooking and warming equipment used in all types of commercial restaurants and institutional kitchens, and food preparation, cooking and packaging equipment for food processing operations. It conducts its business through two principal business divisions: the Commercial Foodservice Equipment Group and the Food Processing Equipment Group. On September 21, 2010, the Company acquired the food processing equipment business of Cozzini Inc. (Cozzini), a manufacturer of equipment solutions for the food processing industry. In April 2011, it acquired Beech Ovens, Pty. Ltd. In May 2011, it acquired Lincat Group plc. In July 2011, it acquired Danfotech Inc. In November 2011, the Company acquired F.R. Drake Company. In December 2011, the Company acquired Armor Inox.
http://www.google.com/finance?q=MIDD
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