Acquisitions
Middleby has acquired numerous businesses in the US and internationally.[5] In 1990, Middleby acquired a majority stake in Asbury Associates Inc., a Filipino manufacturer of food service equipment.[14] It increased its interest to 80% by 1991 and became the company's main export distributor internationally with the exception of Canada where Middleby already owned a distributor.[15] The same year, it established Fab-Asia, Inc., a separate unit in Manila for manufacturing of kitchen equipment for markets in Asia and the United States.[5]
Middleby initiated assimilation of MagiKitch'n brands in 2010 to their commercial appliance line.[16]
Middleby purchased TurboChef in 2008 in a deal reported to be worth $200 million.[17] It was reported by Bassoul that the purchase would strengthen the company's position as a leader in the food service equipment industry.[17] Both companies were previously competitors in food service equipment for speed cooking pizza ovens.[18]
In 2013, The Middleby Corporation purchased Viking Range for US$380 million from investors Warren Stephens and Fred Carl, Jr., the latter of whom would continue at the helm of the new subsidiary.[19][20] Middleby announced that it would incorporate its technology into Viking equipment and increase residential sales, which were approximately 1% to 2% of the company's overall sales prior to the purchase.[20] The acquisition was said to be the largest in the company's history,[10] bringing 750 employees into the company.[19]
In July 2015, Aga Rangemaster Group, the British manufacturer of cast-iron cooking ranges was acquired for £129 million.[21]
In 2016, Middleby acquired Follett Ice in Easton, Pennsylvania.
In May 2018, Taylor Company, a manufacturer of ice cream dispensing equipment and frozen drink machines was acquired for $1 billion.[22]
In December 2021, The Middleby Corporation purchased consumer grill manufacturers Kamado Joe, Masterbuilt, and Char-Griller, which were estimated to expand the revenues of the Middleby Residential platform to more than $1 billion.
In July 2022, Middleby acquired CP Packaging, a US-based equipment manufacturer.[23][24]
