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The Middleby Corporation Acquires Beech Ovens

Stocks in this article: MIDD

The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Beech Ovens, Pty. Ltd. (“Beech”), a leading manufacturer of stone hearth ovens for the commercial foodservice industry located in Brisbane, Australia with approximately $10 million in annual sales. With this acquisition, Middleby continues to expand its portfolio of leading brands in the cooking and warming segments and reinforce its position as a leading manufacturer of commercial ovens.

Selim A. Bassoul, Middleby Chairman and Chief Executive Officer, said, “Beech is recognized globally as a preferred brand in the manufacture of stone hearth ovens, tandoor ovens, rotisserie ovens, and specialty cooking equipment. Their unique design, energy efficiency and durability make Beech the oven of choice for many of the top restaurants globally. Beech is particularly strong in emerging markets such as India, China, and Middle East, where the demand for display cooking is growing with the expansion of hotels and resorts. We also excited about the opportunity to expand the presence of Beech products in the North American market.”

Visit www.Beechovens.com.au to learn more about the spectacular cooking equipment of Beech.

Statements in this press release or otherwise attributable to Middleby regarding its business which are not historical fact are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Middleby 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. These risks are detailed from time-to-time in Middleby's SEC filings.

The Middleby Corporation is a global leader in the foodservice equipment industry. The company develops, manufactures, markets and services a broad line of equipment used for commercial food cooking, preparation and processing. The company's leading equipment brands serving the commercial foodservice industry include Anets®, Blodgett®, Blodgett Combi®, Blodgett Range®, Bloomfield®, Carter Hoffman®, CookTek®, CTX®, Doyon®, frifri®, Giga®, Holman®, Houno®, Jade®, Lang®, MagiKitch'n®, Middleby Marshall®, Nu-Vu®, Perfectfry®, Pitco Frialator®, Southbend®, Star®, Toastmaster®, Turbochef®, and Wells®. The company’s leading equipment brands serving the food processing industry include Alkar®, Cozzini®, MP Equipment®, and RapidPak®.

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