ELGIN, IL — Middleby Corp., a global manufacturer of commercial foodservice, food processing and residential kitchen equipment, confirmed it has been conducting a strategic review of its business portfolio. The review, which started last year, is part of the board of directors’ continuous efforts to maximize value for shareholders.
With assistance from external financial and legal advisors, Middleby is considering various options, including the potential separation of its food processing and/or residential kitchen business units.
This move could unlock the unrealized value of Middleby’s business portfolio. While currently in the advanced stages of the review, the organization expects to reach a conclusion on this matter in the coming months.
Middleby will not comment further on the review process until the board approves a transaction or course of action worth disclosing.
