Middleby Acquires Frigomeccanica S.p.A

Acquisition Expands Food Processing Portfolio and Full-Line Solutions for Customers

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today announced the acquisition of Frigomeccanica S.p.A, expanding its portfolio of Middleby Food Processing equipment innovations. Frigomeccanica is a global leader in equipment solutions for drying, defrosting, fermentation, refrigeration and preservation used in the food processing industry. Based in Parma, Italy, the company has annual revenues of $30 million.

The acquisition enhances Middleby offerings of full-line solutions to customers, particularly for the growing protein industry. Frigomeccanica serves categories where Middleby is currently expanding, including dried meats, cured ham and ready-to-eat foods.

“Frigomeccanica brings complementary product expertise and extensive engineering capabilities to our food processing business. Recognized as a technology leader with solutions that offer operational efficiencies, Frigomeccanica advancements allow customers to extend product shelf life and deliver premium food quality to address the growing global demand for protein food sources,” said Tim FitzGerald, Middleby CEO. “We expect to capitalize on growth opportunities, leveraging the extensive Middleby customer base and our well-established global sales footprint. Our significant Italian and European manufacturing capabilities of complementary brands and products support strong synergies within the group. In addition, the acquisition further strengthens our ability to provide long term shareholder value in the food processing business after the spinoff is completed in 2026.”

Visit www.frigomeccanica.it for more information on the company and their full line processing solutions.

ABOUT THE MIDDLEBY CORPORATION

The Middleby Corporation is a global leader in the foodservice industry. The company develops and manufactures a broad line of solutions used in commercial foodservice, food processing, and residential kitchens. Middleby showcases its advanced solutions in the Middleby Innovation Kitchens for commercial foodservice, industrial baking and protein Innovation Centers for food processing solutions and state-of-the-art, award-winning Middleby Residential showrooms. For more information about Middleby, please visit www.middleby.com.