News Column

Middleby Buys Viking Range for $380M

Jan. 1, 2013

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.

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Distributed by MCT Information Services



Source: (c) 2012 the Chicago Tribune


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