The Middleby Corporation (NASDAQ:MIDD) today announced that it has acquired the F.R. Drake Company (“Drake”). Drake is a leading manufacturer of automated loading systems for the food processing industry with approximate annual revenues of $20 million. The addition of Drake complements and further strengthens Middleby’s food processing equipment platform.
Selim A. Bassoul, Chairman and CEO commented, “Drake is a globally recognized brand with a market leadership position. Drake’s highly automated loading equipment allows food processing operators to increase throughput and at the same time lower operating costs due to reduced labor. Alongside Middleby’s other unique processing technologies, the Drake loading equipment allows Middleby to provide a fully integrated and comprehensive solution to our customers.”
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®, Britannia®, 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®, Autobake®, Cozzini®, Danfotech®, Drake®, Maurer-Atmos®, 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 Drake, visit www.drakeloader.com. 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