The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Auto-Bake Pty Ltd, a leading manufacturer of automated baking systems for the food processing industry. Auto-Bake has annualized revenues of approximately $20 million USD and is based in Australia.
"The acquisition of Auto-Bake adds another advanced set of products to our growing food processing platform and further expands the Middleby portfolio of leading brands and technologies,” said Selim A. Bassoul, Chairman and Chief Executive Officer of The Middleby Corporation. “The superior design of the Auto-Bake system offers customers a flexible and fully automated baking solution providing for labor savings and reduced energy consumption. Auto-Bake equipment is recognized for its top-quality bake in a compact, space saving footprint. Auto-Bake is well positioned in North America and in emerging markets. We anticipate the well established international infrastructure of Middleby will enable Auto-Bake to accelerate its growth and expand its global reach."
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®, Danfotech®, FriFri®, Giga®, Holman®, Houno®, IMC®, Jade®, Lang®, Lincat®, MagiKitch'n®, Maurer-Atmos®, 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.For further information about Middleby, visit www.middleby.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV