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04/21/2021

Middleby Corp. to Buy Welbilt

Deal will create a premier food equipment company with a leading commercial foodservice portfolio.
Anna Wolfe
Senior Editor - Restaurants
Anna Wolfe  profile picture

The Middleby Corp. has struck a deal to buy Welbilt, Inc. The all-stock transaction will bring together two complementary businesses, accelerate the Middleby growth strategy into key markets globally and increase core capabilities in highly attractive segments.

The combined company will have approximately $3.7 billion in combined 2020 sales, 73% of which will come from the Commercial Foodservice segment.

Among its offerings, Middleby's Carter-Hoffmann division developed the  Pick Up Cabinet (PUC) for Taffer’s Tavern.

Middleby will be well positioned and capitalized to support significant R&D and future acquisition opportunities. Middleby has completed over 20 acquisitions since 2018, and has a history of driving efficiencies in acquired companies.

The deal: 

  • Creates a broad Commercial Foodservice Equipment platform with enhanced ability to serve customers through complementary portfolios with leading brands and broad geographic footprint

  • Strengthens customer value proposition across hot-side, cold-side, beverage, technology and aftermarket support services across the globe

  • Transaction accelerates R&D and investment into the value-added technologies and services of the future, including ventless cooking, controls, automation and connectivity

The transaction is expected to close in late 2021. A full release detailing the acquisition is available here.