THE MIDDLEBY CORPORATION

(MIDD)
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The Middleby Corporation completed the acquisition of Masterbuilt Holdings LLC from Dominus Capital, L.P. for approximately $410 million.

12/27/2021 EDT

The Middleby Corporation (NasdaqGS:MIDD) entered into an agreement to acquire Masterbuilt Holdings LLC from Dominus Capital, L.P. for approximately $390 million on December 6, 2021. The consideration is payable in cash and will be funded under Middleby’s existing senior credit facility. The transaction is subject to customary closing conditions including regulatory approvals and is expected to close in December 2021. Transaction is expected to be accretive to adjusted EPS in 2022. William Blair and Sawaya Partners, LLC served as financial advisors, and White & Case LLP served as legal counsel for Masterbuilt. Shilpi Gupta, Douglas R. Nemec, Joseph M. Yaffe and Eric B. Sensenbrenner of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisors for Middleby Corporation. The Middleby Corporation (NasdaqGS:MIDD) completed the acquisition of Masterbuilt Holdings LLC from Dominus Capital, L.P. for approximately $410 million on December 27, 2021. The purchase price included $403.6 million in cash and 12,921 shares of Middleby common stock valued at $2.5 million. Middleby completed the acquisition for a purchase price of approximately $400.7 million, net of cash acquired. The purchase price is subject to adjustment based upon a working capital provision provided by the purchase agreement, which the company expects to finalize in the second quarter of 2022.


© S&P Capital IQ 2021
All news about THE MIDDLEBY CORPORATION
05/20Middleby Board Authorizes Repurchase of Up to Additional 2.5 Million Outstanding Common..
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05/19MIDDLEBY CORP : Submission of Matters to a Vote of Security Holders (form 8-K)
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05/16Citigroup Lowers Middleby's Price Target to $180 From $190, Maintains Buy Rating
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05/12MIDDLEBY CORP Management's Discussion and Analysis of Financial Condition and Results ..
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05/12Tranche Update on The Middleby Corporation's Equity Buyback Plan announced on November ..
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05/11KeyBanc Adjusts Middleby's Price Target to $182 from $200, Keeps Overweight Rating
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05/10TRANSCRIPT : The Middleby Corporation, Q1 2022 Earnings Call, May 10, 2022
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05/10Middleby's Q1 Adjusted Earnings, Revenue Increase
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05/10MIDDLEBY : Q1 Earnings Snapshot
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05/10The Middleby Corporation Reports First Quarter Results
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Analyst Recommendations on THE MIDDLEBY CORPORATION
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Financials (USD)
Sales 2022 4 089 M - -
Net income 2022 447 M - -
Net Debt 2022 2 031 M - -
P/E ratio 2022 17,2x
Yield 2022 -
Capitalization 7 755 M 7 755 M -
EV / Sales 2022 2,39x
EV / Sales 2023 2,18x
Nbr of Employees 10 624
Free-Float 85,4%
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Technical analysis trends THE MIDDLEBY CORPORATION
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Consensus
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Mean consensus BUY
Number of Analysts 9
Last Close Price 142,59 $
Average target price 190,00 $
Spread / Average Target 33,2%
EPS Revisions
Managers and Directors
Timothy John Fitzgerald Vice President & Controller
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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