The Middleby Corporation Acquires Carter Hoffmann
Jul 5, 2007
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The Middleby Corporation has  acquired the assets of Carter Hoffmann from Carrier Commercial Refrigeration, Inc., a subsidiary of Carrier Corporation, which is a unit of United Technologies Corporation. The assets of Carter Hoffmann were acquired for U.S. $16 million in cash, subject to a post-close working capital adjustment. Carter Hoffmann is a leading manufacturer of heated cabinets and holding equipment for the commercial foodservice industry with annual revenues of approximately U.,S. $20 million. This acquisition adds to Middleby’s portfolio of leading brands in foodservice equipment.“This transaction broadens Middleby’s portfolio of products in the foodservice equipment industry and provides an entry intothe heating and holding equipment segment, a segment that is estimated to have annualized revenues of $150 million,” said Chairman and Chief Executive Officer, Selim A. Bassoul. “Carter Hoffmann is a well recognized brand and long-standing industry leader that has been serving the foodservice industry for 60 years with a broad product portfolio of heated cabinets, rethermalizing equipment, and food serving equipment. We anticipate this acquisition will be accretive to earnings in 2008.”

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