Press release from Business Wire
The Middleby Corporation Completes Acquisition of Cozzini Food Processing Equipment Group
Tuesday, September 21, 2010
The Middleby Corporation Completes Acquisition of Cozzini Food Processing Equipment Group18:00 EDT Tuesday, September 21, 2010 ELGIN, Ill. (Business Wire) -- The Middleby Corporation (NASDAQ: MIDD) today announced it has acquired the food processing equipment business of Cozzini Inc. (“Cozzini”), a leading manufacturer of equipment solutions for the food processing industry. The acquisition of Cozzini, with approximately $30 million in global annual sales, expands the Middleby portfolio of leading brands and technologies serving the food processing industry. Selim A. Bassoul, Middleby Chairman and Chief Executive Officer, said, “We are very pleased to have completed the acquisition of Cozzini. Cozzini is a premier brand with leading market positions. The broad line of Cozzini product offerings include grinding, slicing, emulsification, mixing and blending equipment, which complement our existing products offered under the Alkar, MP Equipment, and RapidPak brands. This acquisition significantly strengthens our leadership position in the food processing industry.” Mr. Bassoul continued, “We are very excited to have the Cozzini team, lead by Ivo Cozzini, joining the Middleby organization. Ivo brings significant industry experience and deep customer relationships to Middleby, which will benefit the overall group. In addition to continuing as the division president of Cozzini, Ivo will have leadership responsibilities at Middleby in further expanding our food processing platform through the acquisition and development of new market opportunities.” Statements in this press release or otherwise attributable to Middleby regarding its business which are not historical fact are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Middleby cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors that could cause actual results to differ materially from such statements. These risks are detailed from time-to-time in the Middleby SEC filings. 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®, Blodgett Range®, Bloomfield®, Carter-Hoffmann®, CookTek®, CTX®, Doyon®, frifri®, Giga®, Holman®, Houno®, Jade®, Lang®, 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®, MP Equipment®, and RapidPak®. The Middleby Corporation was recognized by Business Week as one of the Top 100 Hot Growth Companies of 2008 and 2009 and by Forbes as one of the Best Small Companies in 2008 and 2009. More information on Middleby and the company brands is available at www.middleby.com.