The Middleby Corporation’s Board of Directors unanimously approved the separation of its food processing business into a standalone public company: Middleby Food Processing. Two independent companies will result after the separation: The Middleby Corporation and Middleby Food Processing. The tax-free separation is expected to be completed by early 2026.

“Today’s announcement is the result of a comprehensive review of our business portfolio over the past several quarters and is an important milestone in our work to unlock Middleby’s full value potential,” said Tim FitzGerald, Middleby CEO. “Our team has successfully built a premier food processing business with necessary scale to take this next strategic step, enabling us to best position each of these highly successful businesses.”

“As an independent company, Middleby Food Processing will become an even more focused and scaled entity, with best-in-class solutions serving attractive markets supported by favorable industry trends.” FitzGerald continued, “Significant potential for growth exists organically and through continued strategic M&A, with a robust pipeline of existing opportunities. We believe this separation will deliver benefits for our customers and team members, all while creating significant long-term value for our shareholders.”

The food processing business earned USD 731 million in revenue in 2024. The separation transaction is expected to be carried out through a spin-off of Middleby’s food processing business. It is subject to certain customary conditions, including, the final approval by Middleby’s Board of Directors and the effectiveness of appropriate filings with the Securities and Exchange Commission.

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