Press release from Business Wire
The Middleby Corporation Acquires Danfotech Inc.
Wednesday, July 06, 2011
The Middleby Corporation Acquires Danfotech Inc.11:47 EDT Wednesday, July 06, 2011 ELGIN, Ill. (Business Wire) -- The Middleby Corporation (NASDAQ:MIDD) today announced the acquisition of Danfotech Inc. (“Danfotech”), a subsidiary of SFK systems A/S. Danfotech is a leading manufacturer of equipment for the food processing industry with annual sales of approximately $5 million. Danfotech products include meat tenderizers, tumblers, presses and defrosting systems. With this acquisition, Middleby continues to add to its portfolio of leading brands and expand its food processing platform. Selim A. Bassoul, Middleby Chairman and Chief Executive Officer, said, “With this acquisition, we further broaden our innovative product offering to our food processing customers. The Danfotech line of products complements our existing portfolio of products under the Alkar, Cozzini, MP Equipment and Rapidpak brands. This acquisition further extends our ability to offer unique processing solutions that improve the efficiency and reduce costs of our customers' processing operations. We believe there are opportunities to significantly increase revenues of Danfotech products by leveraging the strength of our existing sales infrastructure and strong customer relationships.” 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 Middleby's 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®, Beech®, Blodgett®, Blodgett Combi®, Blodgett Range®, Bloomfield®, Britannia®, Carter Hoffman®, CookTek®, CTX®, Doyon®, frifri®, Giga®, Holman®, Houno®, IMC®, Jade®, Lang®, Lincat®, 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®, Danfotech®, MP Equipment®, and RapidPak®. Please visit www.Middleby.com for more information about the Middleby Corporation and the company brands. The Middleby CorporationDarcy Bretz, 847-429-7756Investor and Public RelationsorTim Fitzgerald 847-429-7744Chief Financial Officer