The Middleby Corporation Acquires Induc Commercial Electronics Co., Ltd.
By Business Wire News
By Business Wire News
The Middleby Corporation (NASDAQ: MIDD) today announced it has acquired the assets of Induc Commercial Electronics Co. Ltd. (“Induc”), a leading manufacturer of induction cooking equipment for the commercial foodservice industry. Based in Qingdoa, China, Induc has annual revenues of approximately $10 million.
“We are excited to add Induc to our portfolio of innovative technologies. Induc is a leader in induction cooking equipment and a well-established brand in the Chinese market, with a growing presence in other Asian countries. Induc has a broad line of innovative products marketed under “ECO Kitchen”, including steamers, wok ranges, tilting skillets, fryers, and pasta cookers,” said Selim A. Bassoul, Chairman and CEO of The Middleby Corporation. “Induction equipment continues to be increasing in demand as our restaurant customers recognize the benefits of energy efficiency, speed of cooking, safety, and precise temperature control. This acquisition is highly synergistic with CookTek, our existing induction brand, and further strengthens the Middleby leadership position in induction cooking.”
For more information on Induc visit www.induc.com.cn.
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®, Beech®, Blodgett®, Blodgett Combi®, Blodgett Range®, Bloomfield®, Britannia®, Carter-Hoffmann®, Celfrost®, Concordia®, CookTek®, CTX®, Desmon®, Doyon®, Eswood®, frifri®, Giga®, Goldstein® , Holman®, Houno®, IMC®, Jade®, Lang®, Lincat®, MagiKitch’n®, Market Forge®, Marsal®, Middleby Marshall®, MPC©, Nieco®, Nu-Vu®, PerfectFry®, Pitco Frialator®, Southbend®, Star®, Toastmaster®, TurboChef®, Viking®, Wells® and Wunder-Bar®. The company’s leading equipment brands serving the food processing industry include Alkar®, Armor Inox®, Auto-Bake®, Baker Thermal Solutions®, Cozzini®, Danfotech®, Drake®, Maurer-Atmos®, MP Equipment®, Processing Equipment Solutions®, RapidPak®, Spooner Vicars®, Stewart Systems® and Thurne®. The company’s leading equipment brands serving the residential kitchen industry include Brigade®, Jade®, TurboChef®, Viking® and U-Line®. In 2014, The Middleby Corporation was named a Fastest Growing Company by Fortune Magazine.
For more information about The Middleby Corporation and the company brands, please visit www.middleby.com.
The Middleby Corporation
Darcy Bretz, (847) 429-7756