Profile: Middleby Corp (MIDD.OQ)

MIDD.OQ on NASDAQ Stock Exchange Global Select Market

24 Dec 2014
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The Middleby Corporation (Middleby), incorporated on March 12, 1985, 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. The Company operates in two segments: the Commercial Foodservice Equipment Group and the Food Processing Equipment Group. In March 2012, the Company acquired Turkington USA. In September 2012, it acquired Stewart Systems Global, LLC. In October 2012, the Company acquired Nieco Corporation. In January 2013, the Company acquired Spooner Vicars Bakery Systems. In October 2013, the Company announced the acquisition of the commercial refrigeration and foodservice products business of Celfrost Innovations Pvt. Ltd. In December 2013, Middleby announced the acquisition of Automatic Bar Controls, Inc. In January 2014 Middleby Corp, acquired the assets of Market Forge Industries, Inc., a manufacturer of steam cooking equipment for the foodservice industry. In April 2014, Middleby Corporation acquired assets of Processing Equipment Solutions, Inc. In September 2014, Middleby Corporation acquires Concordia Coffee Company, Inc.

Commercial Foodservice Equipment Group

The Commercial Foodservice Equipment Group has a portfolio of cooking and warming equipment, which enable it to serve any cooking or warming application within a commercial kitchen or foodservice operation. It’s cooking and warming equipment is used across all types of foodservice operations, including quick-service restaurants, full-service restaurants, convenience stores, retail outlets, hotels and other institutions. This commercial foodservice equipment is marketed under a portfolio of thirty brands, including Anets, Beech, Blodgett, Blodgett Combi, Blodgett Range, Bloomfield, Britannia, CTX, Carter-Hoffmann, CookTek, Doyon, Frifri, Giga, Holman, Houno, IMC, Jade, Lang, Lincat, MagiKitch'n, Middleby Marshall, MPC, Nu-Vu, PerfectFry, Pitco Frialator, Southbend, Star, Toastmaster, TurboChef and Wells. The products offered by this group include conveyor ovens, combi-ovens, convection ovens, baking ovens, proofing ovens, deck ovens, speed cooking ovens, hydrovection ovens, ranges, fryers, rethermalizers, steam cooking equipment, warming equipment, heated cabinets, charbroliers, ventless cooking systems, kitchen ventilation, induction cooking equipment, countertop cooking equipment, toasters and beverage equipment.

The Company competes with Manitowoc Company, Inc., Vulcan-Hart and Hobart Corporation, Electrolux AB, Groen, Rational AG and the Ali Group.

Food Processing Equipment Group

The Food Processing Equipment Group offers a portfolio processing solutions for customers producing pre-cooked meat products, such as hot dogs, dinner sausages, poultry and lunchmeats and baked goods such as muffins, cookies and bread. Through its line of products, the Company is able to deliver a array of cooking solutions to service a variety of food processing requirements. The food processing equipment is marketed under a portfolio of eleven brands, including Alkar, Armor Inox, Auto-Bake, Baker Thermal Solutions, Cozzini, Danfotech, Drake, Maurer-Atmos, MP Equipment, RapidPak and Stewart Systems.

The products offered by this group include an array of cooking and baking solutions including, batch ovens, baking ovens, proofing ovens, conveyor ovens, continuous processing ovens, and automated thermal processing systems. The company also provides a portfolio of complementary food preparation equipment such as grinders, slicers, emulsifiers, mixers, blenders, battering equipment, breading equipment, food presses, and forming equipment, as well as a variety of food safety, freezing and packaging equipment.

Middleby competes with Convenience Food Systems, FMC Technologies, Multivac, Marel, Formax and Heat and Control.

Company Address

Middleby Corp

1400 Toastmaster Drive
ELGIN   IL   60120
P: +1847.7413300
F: +1847.7410015

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