The Middleby Corporation (NASDAQ: MIDD) today announced the completion of the previously announced acquisition of Lincat Group plc for 57.9 million British pounds sterling, or approximately $90 million US dollars, to add to its portfolio of leading foodservice brands. The Lincat Group has annual revenues of approximately $50 million USD.
“Middleby has added three leading brands in the United Kingdom, including Lincat, IMC and Brittania through this acquisition,” said Selim A. Bassoul, Chairman and Chief Executive of The Middleby Corporation. “The addition of these brands complements and significantly strengthens the Middleby presence in the UK. Also, there is an opportunity to greatly expand these respected brands outside of the UK through the well-established Middleby global sales infrastructure.”
Lincat is a leading manufacturer of a broad range of cooking products including ranges, ovens, fryers, toasters and counterline cooking equipment. IMC is a leading manufacturer of food processing equipment, and Brittania is a leading supplier of energy efficient and ventless hood systems.
About The Middleby Corporation
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®, Beech Ovens®, Bloomfield®, Brittania®, Carter Hoffmann®, CookTek®, CTX®, Doyon®, FriFri®, Giga®, Holman®, Houno®, IMC®, Jade®, Lang®, Lincat®, 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®. The Middleby Corporation has been recognized by Forbes Magazine as one of the Best Small Companies in 2008, 2009 and 2010.
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