The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of the commercial refrigeration and foodservice products business of Celfrost Innovations Pvt. Ltd. (“Celfrost”). Celfrost has annual sales of approximately $20 million and is based in Gurgaon, India. The Celfrost business was acquired by Middleby’s newly established entity in India, Middleby Commercial Food Innovations Pvt. Ltd.
Celfrost is recognized in India as a preferred commercial foodservice equipment supplier with a broad line of cold side products such as professional refrigerators, coldrooms, ice machines, and freezers, marketed under the Celfrost brand. Celfrost is a leading supplier of equipment to many of the fast growing restaurant chains and hotel groups.
“With the acquisition of Celfrost, Middleby will strengthen its presence in the fast growing market of India and expand our commercial foodservice product offerings in India to include complementary cold side products alongside our cooking and warming brands,” said Selim A. Bassoul, Chairman and CEO of The Middleby Corporation. “Celfrost has an extensive marketing and service network in India, including 15 brand centers that we will strategically leverage to support Middleby’s entire portfolio of brands in the market. We are also excited about the opportunity to introduce the Celfrost brand and portfolio of products into other emerging markets utilizing Middleby’s existing sales and marketing infrastructure.”
Visit www.celfrost.com to learn more about Celfrost.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 in the commercial, industrial processing and residential markets. The company's leading equipment brands serving the commercial foodservice industry include Anets®, Beech®, Blodgett®, Blodgett Combi®, Blodgett Range®, Bloomfield®, Britannia®, Carter Hoffmann®, Celfrost®, CookTek®, CTX®, Doyon®, frifri®, Giga®, Holman®, Houno®, IMC®, Jade®, Lang®, Lincat®, MagiKitch'n®, Middleby Marshall®, Nieco®, 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®, Spooner Vicars® and Stewart Systems®. The company’s leading brands serving the residential kitchen market include Jade®, Turbochef®, and Viking®. The Middleby Corporation has been recognized by Forbes Magazine as one of the Best Small Companies every year since 2005, most recently in October 2012.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts