The Middleby Corp. on Monday announced the acquisition of Viking Range Corp. for $380 million in cash.
Headquartered in Greenwood, Miss., Viking has approximately $200 million in annual revenue.
"This acquisition strategically positions Middleby as a leading manufacturer in the sector with a top brand," Chairman and CEO Selim A. Bassoul said in a statement. "The acquisition of Viking allows us to integrate our own patented technologies that will have a huge appeal to consumers for their residential kitchens. These technologies include speed cooking, induction and truvection."
Viking joins the TurboChef, Jade and MagiKitch'n brands at Elgin-based Middleby. "We are combining leading commercial cooking companies with a leading residential cooking company. We are so excited to take what we've learned from the professional chef and bring it to the residential chef," Bassoul continued.
Distributed by MCT Information Services
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