The Middleby Corporation Acquires Sveba Dahlen Group
June 30 2017 - 4:01PM
Business Wire
The Middleby Corporation (NASDAQ:MIDD) today announced the
acquisition of the Sveba Dahlen Group. The company, headquartered
in Sweden, develops and manufactures ovens and baking equipment for
the commercial foodservice and industrial baking industries. The
company markets its products under three leading brands, Sveba
Dahlen, Glimek, and Bear Varimixer. The combined group has
approximately $60 million in annual sales.
“This acquisition adds several highly-respected,
industry-leading, brands to our portfolio. Sveba Dahlen is a leader
in bakery ovens for restaurant, hotel, retail and institutional
customers, Glimek is a leader in high capacity bakery systems for
industrial bakeries, and Bear Varimixer is recognized as one of the
most reputable brands of mixer equipment worldwide,” said Selim A.
Bassoul, Chairman and CEO of the Middleby Corporation. “This
acquisition significantly strengthens Middleby’s position in the
bakery category and provides for increased growth opportunities in
the retail market. Additionally, the acquired business is
well-positioned to benefit from the continuing trend of on-premise
baking in the commercial foodservice industry. We anticipate that
the combination will provide for new growth opportunities for the
Sveba Dahlen Group by leveraging Middleby’s existing customer
relationships and international sales network. We also are excited
about opportunities to accelerate new product development through
sharing of technologies and innovations with our existing
businesses.”
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 in the commercial
foodservice, food processing, and residential kitchen equipment
industries. The company's leading equipment brands serving the
commercial foodservice industry include Anets®, Bear Varimixer®,
Beech®, Blodgett®, Blodgett Combi®, Blodgett Range®, Bloomfield®,
Britannia®, Carter-Hoffmann®, Celfrost®, Concordia®, CookTek®,
CTX®, Desmon®, Doyon®, Eswood®, frifri®, Follett®, Giga®,
Goldstein®, Holman®, Houno®, IMC®, Induc®, Jade®, Lang®, Lincat®,
MagiKitch'n®, Market Forge®, Marsal®, Middleby Marshall®, MPC®,
Nieco®, Nu-Vu®, PerfectFry®, Pitco Frialator®, Southbend®, Star®,
Sveba Dahlen®, Toastmaster®, TurboChef®, Wells® and Wunder-Bar®.
The company’s leading equipment brands serving the food processing
industry include Alkar®, Armor Inox®, Auto-Bake®, Baker Thermal
Solutions®, Burford®, Cozzini®, CVP Systems®, Danfotech®, Drake®,
Glimek®, Maurer-Atmos®, MP Equipment®, RapidPak®, Spooner Vicars®,
Stewart Systems® and Thurne®. The company’s leading equipment
brands serving the residential kitchen industry include AGA®, AGA
Cookshop® Brigade®, Fired Earth®, Grange®, Heartland®, La Cornue®,
Leisure Sinks®, Lynx®, Marvel®, Mercury®, Rangemaster®, Rayburn®,
Redfyre®, Sedona®, Stanley®, Turbochef®, U-Line® and Viking®.
For more information about The Middleby Corporation and the
company brands, please visit www.middleby.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170630005705/en/
The Middleby CorporationDarcy Bretz, (847) 429-7756
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