The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Stewart Systems Global, LLC, a leading manufacturer of baking systems for the food processing industry with annual revenues of approximately $30 million. This acquisition further strengthens the Middleby portfolio of brands and technologies serving the food processing industry.
“Stewart Systems is a long-standing and well-recognized leader in the production of highly automated proofing and oven systems for the baking industry,” said Selim A. Bassoul, Chairman and CEO of the Middleby Corporation. “This addition is highly complementary to our recent acquisitions of Auto-Bake and Baker Thermal Solutions. We are providing customers a broader portfolio of patented technologies and an integrated baking system.”
“The global manufacturing, sales and support infrastructure of Middleby will allow us to further extend the presence of these brands internationally,” Bassoul continued. “We are very well-positioned with our customers to meet their increasing demands for advanced technologies to support their growth initiatives as they expand in emerging markets.”
About The Middleby CorporationThe 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®, Beech®, Blodgett®, Blodgett Combi®, Blodgett Range®, 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®, Armor Inox®, Auto-Bake®, Baker Thermal Solutions® (formerly known as Turkington), Cozzini®, Danfotech®, Drake®, Maurer-Atmos®, MP Equipment®, RapidPak® and Stewart®. The Middleby Corporation has been recognized by Forbes Magazine as one of the Best Small Companies every year since 2005, most recently in October 2011. For more information about The Middleby Corporation and the company brands, please visit www.middleby.com.
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