Foodservice Equipment Reports

Middleby Adds Another Residential Cookware Maker

The Middleby Corp. will acquire AGA Rangemaster Group, a British manufacturer of residential kitchen equipment including ranges, ovens and refrigeration, for about $200 million.

The AGA portfolio includes AGA, Rangemaster, Mercury, Falcon, Marvel, Stanley and La Cornue. Headquartered in Leamington Spa, the firm has approximately $400 million in annual revenue and more than 2,500 employees worldwide. “The addition of AGA’s world-class brands, product range and manufacturing capability to our existing portfolio will further strengthen Middleby’s global reach and enhance our position as a leader in the premium segment for residential kitchen equipment,” said Middleby Chairman and CEO Selim Bassoul.

Since January, Elgin, Ill.-based Middleby has acquired four commercial foodservice equipment manufacturers: Thurne, Marel’s high-speed slicing business; deck-oven maker Marsal & Sons; and Induc, a Chinese induction-cooking equipment maker.

This newest acquisition—conditional upon, among other things, the approval of AGA shareholders—is expected to close in the third quarter.

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