The Middleby Corp. acquires assets of Wells Bloomfield in $29m deal

Nation's Restaurant News,  August 27, 2007  

Tags: asset

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ELGIN, ILL. -- The Middleby Corp., a international foodservice equipment supplier, has acquired the assets of Wells Bloomfield from Carrier Commercial Refrigeration Inc. for $29 million in cash. Carrier is a subsidiary of Carrier Corp., which is a division of United Technologies Corp.

Wells specializes in holding and cooking equipment, including warming systems, fryers, convection ovens, counterline cooking equipment and ventless cooking systems. Bloomfield manufactures beverage systems, including coffee brewers, tea brewers and beverage dispensing equipment.

Combined operations for Wells Bloomfield are based in Verdi, Nev.

Commenting on the acquisition, Middleby chairman and chief executive Selim Bassoul, said: "The Wells and Bloomfield brands have a strong presence with the major restaurant chains and enable Middleby to continue to build its market positions across the commercial foodservice segment.

"Wells is recognized as the leader in food-warming systems and is also well-positioned to take advantage of the growing demand for ventless cooking solutions. The addition of Bloomfield provides Middleby with an entry into the fast-growing beverage market. Our restaurant chain customers have expanded their beverage programs to satisfy increased consumer demand for coffee, tea and specialty drinks."

The Middleby Corp. develops, manufactures, markets and services a broad line of commercial cooking equipment. Its brands include Blodgett, Carter Hoffmann, CTX, MagiKitch'n, Pitco Frialator and Southbend.

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