Middleby discontinues its brewing group operations
The company announces the termination of its brewing division business activities and unit.
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Foodservice, residential kitchen, food processing, and packaging equipment manufacturer
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In short: Middleby completed the spin-off of its Midera Food Processing unit and sold a majority stake in its residential kitchen business.
The company announces the termination of its brewing division business activities and unit.
Commercial Foodservice organic sales grew 8%, adjusted EBITDA reached $193M, and FY guidance raised with Food Processing spin completed.
Middleby is now a pure-play commercial foodservice leader; Midera shares begin trading July 7 under ticker MFP.
The five-year credit agreement consists of $750 million US dollar and $250 million multi-currency revolving credit facilities, supporting Midera's acquisition-driven growth strategy amid its spin-off on July 6.
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