The Middleby Corporation Responds to Acquisition Speculation
By Business Wire News
By Business Wire News
The Middleby Corporation (NASDAQ: MIDD) today announced that its board of directors is in preliminary discussions regarding a possible cash offer for AGA Rangemaster Group plc. These discussions are at a very early stage and there can be no certainty that any formal offer will be made, or as to the terms of any offer. A further announcement will be made when appropriate.
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.
Statements in this press release or otherwise attributable to the company regarding the company’s business which are not historical fact are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The company cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors that could cause actual results to differ materially from such statements. Such factors include variability in financing costs; quarterly variations in operating results; dependence on key customers; international exposure; foreign exchange and political risks affecting international sales; changing market conditions; the impact of competitive products and pricing; the timely development and market acceptance of the company’s products; the availability and cost of raw materials; and other risks detailed herein and from time-to-time in the company’s SEC filings.
Morgan Stanley & Co. International plc (“Morgan Stanley”) is acting as sole financial adviser to The Middleby Corporation and no one else in connection with the matters described in this announcement. In connection with such matters, Morgan Stanley, its affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any other person for providing the protections afforded to the clients of Morgan Stanley or for providing advice in relation to the possible offer, or the contents of this announcement or any other matter or arrangement referred to herein.
The Middleby Corporation
+44 (0) 20 742 5800