The Middleby Corporation (NASDAQ: MIDD) today announced that it has entered into an agreement to acquire the net assets of Mauer-Atmos GmbH, subject to the satisfaction of certain closing conditions. Mauer-Atmos is a leading manufacturer of thermal processing systems for the food processing industry based in Germany with approximate annual revenues of $20 million. The addition of this brand complements and further strengthens Middleby’s food processing equipment platform. “Mauer Atmos is a globally recognized brand with a reputation for superior quality. Its extensive portfolio of batch and continuous cooking systems will further extend our ability to offer unique and innovative solutions to our food processing customers globally,” commented Selim A. Bassoul, Chairman and CEO. Mr. Bassoul further added, “I am also very pleased to announce the promotion of Ivo Cozzini to Group President of Sales and Marketing, and Magdy Albert to Group President of Operations. Ivo and Magdy will work side by side to jointly lead and further develop our growing food processing platform. Upon completion of this latest acquisition, the brands in the Middleby Food Processing Group will include Alkar, Cozzini, Danfotech, Mauer-Atmos, MP Equipment, and RapidPak.” “This new structure will enable us to accelerate the coordination of activities of the expanded portfolio of brands in the Middleby Food Processing Group. Under the leadership and direction of Ivo and Magdy, we will leverage the combined strengths and resources of the group and further realize synergies from the recent acquisitions.” “Ivo’s deep industry experience and customer relationships will be a great asset as we coordinate efforts amongst the brands in selling and providing services to our food processing customers globally. Ivo will lead initiatives to further expand our global reach as we target developing markets and develop customized equipment solutions for our customers with our broadened portfolio of products. Prior to Middleby’s acquisition in 2010, Ivo was the President and former owner of Cozzini Inc. with over 25 years of industry experience.”
“Since joining Middleby in 2003, Magdy has headed several of our business units and has a proven track record of leadership. He has consistently driven operational efficiencies in our businesses and has been instrumental in the development of a number of our new product initiatives. In Magdy’s new and expanded role, he will provide strategic oversight and direction as we further develop our global manufacturing strategy for the food processing platform. Magdy will also drive development efforts to introduce new innovative technologies for the Food Processing Group. Prior to this position, Magdy was president of Alkar, MP Equipment and RapidPak. He also held the position as VP of Operations of Middleby Marshall, a division of Middleby, where he lead the development of the WOW! oven. Prior to joining Middleby, Magdy was General Manager for Vulcan Hart, a division of ITW.”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 ®, 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®, Cozzini®, Danfotech®, 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 Mauer-Atmos, visit www.mauer-atmos.de. For further information about Middleby, visit www.middleby.com.