Foodservice Equipment Reports

Middleby Acquires Beech, Bids For Lincat

The Middleby Corp., which has acquired 15 companies over the past five years, has announced further expansion.

On April 12, the Elgin, Ill., company announced it has acquired Beech Ovens, Pty. Ltd., a Brisbane, Australia-based manufacturer of stone hearth, tandoor and rotisserie ovens with approximately $10 million in annual sales.

In a statement, Selim Bassoul, Middleby chairman and CEO, cited Beech’s strength in emerging markets, including India, China and Middle East, where the expansion of the hotel and resort markets is boosting the demand for display cooking. He added, “We are also excited about the opportunity to expand the presence of Beech products in the North American market.”

In addition, Middleby has inked an agreement to acquire Lincat Group, the British foodservice and bar equipment manufacturer, for ₤58 million ($94.95 million). The cash takeover offer by Middleby Holding UK Ltd., a wholly-owned subsidiary of Elgin, Ill.-based Middleby, was announced in England March 23.

Bassoul called the British firm’s broad line of products “highly complementary to Middleby's existing portfolio.” Lincat Group manufactures equipment as three separate companies: Lincat Ltd. focuses on light- and medium-duty cooking, food display and beverage equipment; IMC Ltd. manufactures kitchen machines and bar equipment; and Britannia Kitchen Ventilation Ltd. manufactures commercial kitchen ventilation units.

Completion of the Lincat deal is contingent on approval of both company’s shareholders, as well as various regulatory approvals.

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MIDDLEBY ACQUIRES BEECH, BIDS FOR LINCAT