ELGIN, Ill.--(BUSINESS WIRE)--Oct. 14, 2014--
The Middleby Corporation (NASDAQ: MIDD) today announced it has entered
into a definitive agreement to acquire the U-Line Corporation (U-Line).
U-Line is an industry leader in the premium residential built-in modular
ice making, refrigeration and wine preservation market.
“U-Line is a well-established brand and a category leader in innovation,
quality and performance in the high-end residential markets they serve,”
said Selim A. Bassoul, Chairman and CEO of The Middleby Corporation.
“U-Line has an outstanding reputation and provides a strong strategic
addition to our growing residential platform. We are excited about the
fourth quarter launch of a fully redesigned and expanded lineup of new
products at U-Line and believe the company is well positioned for
growth.”
Founded in 1962, U-Line has been in business through three generations
and five decades based in Milwaukee, which is where the business will
remain headquartered. U-Line has annual revenues of approximately $60
million.
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®, Doyon®, frifri®, Giga®, Holman®, Houno®, IMC®, Jade®,
Lang®, Lincat®, MagiKitch'n®, Market Forge®,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® and Stewart Systems®. The
company’s leading equipment brands serving the residential kitchen
industry include Brigade®, Jade®, TurboChef®, U-Line® and Viking®. For
more information about The Middleby Corporation and the company brands,
please visit www.middleby.com.
About U-Line
For over five decades, and through three generations, U-Line continues
to be the American leader in innovation, quality and performance in the
premium built-in modular ice making, refrigeration and wine preservation
market. Delivering versatility and flexibility for multiple applications
including residential, light commercial, outdoor and marine use,
U-Line’s complete product collection includes modular Wine Captain®
Models, Beverage Centers, Clear Ice Machines, Crescent Ice Makers, Glass
& Solid Door Refrigerators, Drawer Models, Freezers, and Combo® Models.
U-Line offers the right product, in the right place, at the right
temperature. U-Line is headquartered in Milwaukee, WI. For more
information on U-Line and its products visit u-line.com.
Source: The Middleby Corporation
The Middleby Corporation
Darcy Bretz, 847.429.7756
