Middleby Corp. entered into an agreement to acquire the assets and operations of PerfectFry Company Ltd., producer of ventless countertop frying units for the commercial foodservice industry.
PerfectFry is based in Alberta, Canada with approximately $4 million in annual sales. The transaction is expected to close in June 2010 and will be financed under Middleby’s senior revolving credit facility.
"The compact design and ventless technology of the PerfectFry product line provides a foodservice operator with the ability to offer fried foods in non-traditional locations utilizing a low cost solution," said Middleby Chairman and CEO Selim A. Bassoul. "The fully enclosed design also provides for increased safety to the foodservice operator. PerfectFry has been recognized by the National Restaurant Association as a recipient of its Kitchen Innovation Award in 2006 and again in 2010. This acquisition complements our Turbochef, Cooktek, and Wells brands, establishing Middleby as a leader in ventless cooking solutions for the commercial foodservice industry."
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