Middleby Buys Anetsberger Brothers
May 1, 2009 (FinancialWire) — The Middleby Corp. (NASDAQ: MIDD) said it has acquired substantially all of the assets of Anetsberger Brothers, Inc., a manufacturer of griddles, fryers, and dough rollers for the commercial foodservice industry.
Anetsberger posts around $10 million in annual sales, according to Middleby, which paid $3.5 million for the assets plus $0.5 million in deferred payments if certain performance criteria are met.
The transaction will be financed under Middleby’s senior revolving credit facility.
Middleby said that the acquisition allows the company to continue to expand its portfolio of brands in cooking and warming, and increase its market penetration in the griddle and fryer segment.
Elgin, Illinois-based Middleby develops, manufactures, markets and services a line of equipment used for commercial food cooking, preparation and processing.
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