Business News
The Middleby Corporation Acquires FriFri, a Leading European Supplier of Frying Systems
Friday 02. May 2008 - The Middleby Corporation (NASDAQ:MIDD) today announced it has acquired the net assets and related business operations of FriFri aro SA from the Franke Group.
FriFri is a leading European manufacturer of frying systems. This business, located in La Neuveville, Switzerland, had annual revenues of approximately $10 million in 2007. This acquisition expands Middlebys platform of cooking equipment designed for the international markets.
“FriFri is a leading brand name in Europe,” commented Chairman and Chief Executive Officer, Selim A. Bassoul. “This acquisition compliments Middlebys Pitco fryer brand, strengthening our position as a global leader in frying systems. Additionally, this acquisition, combined with the recent acquisitions of Houno, a leading manufacturer of combi-ovens, and Giga Grandi Cucine, a leading manufacturer of ranges, steam cooking equipment and ovens, provides Middleby with a complete platform of European cooking equipment as we continue to expand globally.”