Market Overview

Middleby Acquires Viking Range for $380M in Cash

The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition
of Viking Range Corporation (“Viking”) for $380 million in cash.

Viking is a leading manufacturer of premium residential cooking ranges,
ovens and kitchen appliances. Headquartered in Greenwood, Mississippi,
Viking has approximately $200 million in annual revenues.

“This acquisition strategically positions Middleby as a leading
manufacturer in the sector with a top brand,” said Selim A. Bassoul,
Chairman and CEO of the Middleby Corporation. “The acquisition of Viking
allows us to integrate our own patented technologies that will have a
huge appeal to consumers for their residential kitchens. These
technologies include speed cooking, induction and truvection.”

See full press release

Posted-In: Earnings News Guidance Management M&A Global

 

Related Articles (MIDD)

Around the Web, We're Loving...

Get Benzinga's Newsletters