Middleby Buys Privately Held Market Forge; Terms Not Disclosed

(RTTNews) - Middleby Corp. (MIDD), a manufacturer of cooking and warming equipments for the foodservice industry, Tuesday announced the acquisition of Market Forge Industries, Inc., a manufacturer of steam cooking equipment. The company did not reveal the terms of the acquisition.

Market Forge also provides countertop steamers, kettles and braising pans used by restaurants and foodservice operations. Market Forge has annual revenues of approximately $15 million.

Middleby Chairman and CEO Selim Bassoul said, "A long-standing, trusted brand with a one-hundred year history, Market Forge is well-known for quality and innovation. Recent innovations such as the Eco-Tech and TurboSteam countertop steamers are eco-friendly, energy efficient products providing our customers with flexible and cost-efficient steam cooking solutions. We believe by leveraging the well-established Middleby global sales and distribution network we will realize significant sales opportunities in this category."