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Slide #16. The Middleby Corporation — Processing Equipment Solutions, Inc.
The Middleby Corporation (NASDAQ:MIDD)
Processing Equipment Solutions, Inc.
The Middleby Corporation (NASDAQ:MIDD) today announced the acquisition of the assets of Processing Equipment Solutions, Inc. ("PES"), a leading manufacturer of equipment for the food processing industry based in Gainesville, Georgia. PES product offerings include the IntelliJet and MegaJet line of water cutting systems, meat presses and fillet systems. PES has annual revenues of approximately $15 million.
Middleby is engaged in the design, manufacture, marketing, distribution, and service of a line of foodservice equipment, food preparation, cooking, baking, chilling and packaging equipment, and kitchen equipment. Co.'s segments are: the Commercial Foodservice Equipment Group, which provides foodservice equipment to serve cooking, warming, refrigeration, freezing and beverage application within a commercial kitchen or foodservice operation; the Food Processing Equipment Group, which provides processing solutions for customers producing pre-cooked meat products; and the Residential Kitchen Equipment Group, which manufactures, sells and distributes kitchen equipment for the residential market.
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Buy (3.11 out of 4)