ELGIN, Ill.--(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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170630005705/en/
