Press release from Business Wire
The Middleby Corporation Acquires Auto-Bake Pty Ltd.
Tuesday, August 02, 2011
The Middleby Corporation Acquires Auto-Bake Pty Ltd.19:15 EDT Tuesday, August 02, 2011 ELGIN, Ill. (Business Wire) -- The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Auto-Bake Pty Ltd, a leading manufacturer of automated baking systems for the food processing industry. Auto-Bake has annualized revenues of approximately $20 million USD and is based in Australia. "The acquisition of Auto-Bake adds another advanced set of products to our growing food processing platform and further expands the Middleby portfolio of leading brands and technologies,” said Selim A. Bassoul, Chairman and Chief Executive Officer of The Middleby Corporation. “The superior design of the Auto-Bake system offers customers a flexible and fully automated baking solution providing for labor savings and reduced energy consumption. Auto-Bake equipment is recognized for its top-quality bake in a compact, space saving footprint. Auto-Bake is well positioned in North America and in emerging markets. We anticipate the well established international infrastructure of Middleby will enable Auto-Bake to accelerate its growth and expand its global reach." About The Middleby Corporation 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®, Beech Ovens®, Bloomfield®, Brittania®, Carter Hoffmann®, CookTek®, CTX®, Doyon®, Danfotech®, FriFri®, Giga®, Holman®, Houno®, IMC®, Jade®, Lang®, Lincat®, MagiKitch'n®, Maurer-Atmos®, 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 has been recognized by Forbes Magazine as one of the Best Small Companies in 2008, 2009 and 2010. For further information about Middleby, visit www.middleby.com. The Middleby CorporationDarcy Bretz, (847) 429-7756Tim FitzGerald, (847) 429-7744