Middleby Acquires Indian Commercial Appliance Maker
Oct 18, 2013
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The Middleby Corporation acquired the commercial refrigeration and foodservice products business of India-based Celfrost Innovations Pvt. Ltd.
Middleby is a maker of commercial foodservice appliances, residential appliances, and food processing equipment, sold under numerous global brand names.
Celfrost, based in Gurgaon, India, has annual sales of about US$20 million. The Celfrost business was acquired by Middleby's new entity in India, Middleby Commercial Food Innovations Pvt. Ltd.
Celfrost cold side products include professional refrigerators, coldrooms, ice machines, and freezers, which are marketed under the Celfrost brand. The company supplies equipment to many of the fast growing restaurant chains and hotel groups in India.
"With the acquisition of Celfrost, Middleby will strengthen its presence in the fast growing market of India and expand our commercial foodservice product offerings in India to include complementary cold side products alongside our cooking and warming brands," said Middleby Chairman and CEO Selim A. Bassoul. "Celfrost has an extensive marketing and service network in India, including 15 brand centers that we will strategically leverage to support Middleby's entire portfolio of brands in the market. We are also excited about the opportunity to introduce the Celfrost brand and portfolio of products into other emerging markets utilizing Middleby's existing sales and marketing infrastructure."
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