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THE MIDDLEBY CORPORATION

(MIDD)
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Middleby : acquires Imperial Commercial Cooking Equipment

09/27/2021 | 09:31am EST

The Middleby Corporation, manufacturers of commercial cooking and industrial processing equipment, along with residential appliances, has acquired Imperial Commercial Cooking Equipment, producers of ranges, fryers, ovens, countertop equipment and other specialty cooking products for commercial kitchens, according to a company press release.

Imperial, based in Corona, California, has annual revenues of approximately $40 million.

"Imperial is a leading, highly-respected commercial foodservice brand with products that complement the existing Middleby core cooking category. While we are enhancing our current brand portfolio, this acquisition also expands our west coast footprint and allows us to provide broader capabilities and support to our domestic customers," Tim FitzGerald, Middleby CEO, said in the release. "We are excited to realize the many synergies between the companies. Imperial has impressive manufacturing capabilities, which will provide potential for greater efficiencies and flexibility to our commercial foodservice platform. Working with our long-standing international distribution partners, Imperial has a prime opportunity to expand its global reach. Imperial also has an established presence in the quickly growing fast-casual chain restaurant segment, which will be a benefit to the Middleby brands as well."

Imperial was founded in 1957. Middleby, founded in 1888, is based in Elgin, Illinois.

Copyright © 2021 Networld Media. All rights reserved., source Industry News

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Analyst Recommendations on THE MIDDLEBY CORPORATION
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Financials (USD)
Sales 2021 3 232 M - -
Net income 2021 493 M - -
Net Debt 2021 1 582 M - -
P/E ratio 2021 20,4x
Yield 2021 -
Capitalization 10 064 M 10 064 M -
EV / Sales 2021 3,60x
EV / Sales 2022 3,09x
Nbr of Employees 9 289
Free-Float 86,4%
Chart THE MIDDLEBY CORPORATION
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The Middleby Corporation Technical Analysis Chart | MIDD | US5962781010 | MarketScreener
Technical analysis trends THE MIDDLEBY CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Last Close Price 180,93 $
Average target price 217,00 $
Spread / Average Target 19,9%
EPS Revisions
Managers and Directors
Timothy John Fitzgerald Chief Executive Officer & Director
Bryan E. Mittelman CFO & Principal Accounting Officer
Gordon Jude O'Brien Chairman
James K. Pool Chief Operating & Technology Officer
Martin Mckay Lindsay Secretary, Treasurer & Chief Risk Officer
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