Middleby Confirms Ongoing Strategic Review of Business Portfolio as Part of Board of Directors’ Efforts to Maximize Shareholder Value
Middleby (NASDAQ: MIDD), a leading manufacturer of equipment for commercial foodservice, food processing, and residential kitchen industries, has announced an ongoing strategic review of its business portfolio. The company's Board of Directors, supported by Goldman Sachs and legal advisors, is evaluating various strategic options to maximize shareholder value.
The review, which began last year, includes considering potential separation of its Food Processing and/or Residential Kitchen business units. The company is in advanced stages of this evaluation and expects to reach a conclusion within the next few months. Middleby stated that no further comments will be made until the Board approves a specific course of action or determines that additional disclosure is necessary.
Middleby (NASDAQ: MIDD), un importante produttore di attrezzature per i servizi di ristorazione commerciali, la lavorazione alimentare e l'industria delle cucine domestiche, ha annunciato una revisione strategica in corso del proprio portafoglio aziendale. Il Consiglio di Amministrazione dell'azienda, supportato da Goldman Sachs e consulenti legali, sta valutando varie opzioni strategiche per massimizzare il valore per gli azionisti.
La revisione, iniziata lo scorso anno, include la considerazione di una potenziale separazione delle unità aziendali Food Processing e/o Residential Kitchen. L'azienda è in fase avanzata di questa valutazione e prevede di arrivare a una conclusione nei prossimi mesi. Middleby ha dichiarato che non verranno rilasciati ulteriori commenti fino a quando il Consiglio non approverà un corso d'azione specifico o stabilirà che è necessaria una divulgazione aggiuntiva.
Middleby (NASDAQ: MIDD), un importante fabricante de equipos para el servicio de alimentos comerciales, procesamiento de alimentos y la industria de cocinas residenciales, ha anunciado una revisión estratégica en curso de su portafolio de negocios. La Junta Directiva de la compañía, respaldada por Goldman Sachs y asesores legales, está evaluando varias opciones estratégicas para maximizar el valor para los accionistas.
La revisión, que comenzó el año pasado, incluye considerar la posible separación de sus unidades de negocio Food Processing y/o Residential Kitchen. La compañía se encuentra en etapas avanzadas de esta evaluación y espera llegar a una conclusión en los próximos meses. Middleby declaró que no se harán más comentarios hasta que la Junta apruebe un curso de acción específico o determine que es necesario realizar divulgaciones adicionales.
Middleby (NASDAQ: MIDD), 상업용 외식업, 식품 가공 및 주거용 주방 산업을 위한 장비의 선도적 제조업체, 는 사업 포트폴리오에 대한 지속적인 전략 검토를 발표했습니다. 회사의 이사회는 Goldman Sachs 및 법률 자문과 협력하여 주주 가치를 극대화하기 위한 다양한 전략적 옵션을 평가하고 있습니다.
작년에 시작된 이 검토는 Food Processing 및/또는 Residential Kitchen 사업 부문의 분리를 고려하는 것을 포함합니다. 회사는 이 평가의 고급 단계에 있으며, 향후 몇 달 내에 결론에 도달할 것으로 예상하고 있습니다. Middleby는 이사회가 특정 행동 방침을 승인하거나 추가 공개가 필요하다고 판단할 때까지 더 이상의 언급은 없을 것이라고 밝혔습니다.
Middleby (NASDAQ: MIDD), un fabricant majeur d'équipements pour la restauration commerciale, la transformation des aliments et les cuisines résidentielles, a annoncé un examen stratégique en cours de son portefeuille d'activités. Le Conseil d'administration de l'entreprise, soutenu par Goldman Sachs et des conseillers juridiques, évalue diverses options stratégiques pour maximiser la valeur pour les actionnaires.
L'examen, qui a commencé l'année dernière, inclut la considération d'une éventuelle séparation de ses unités commerciales Food Processing et/ou Residential Kitchen. L'entreprise est dans une phase avancée de cette évaluation et s'attend à une conclusion dans les mois à venir. Middleby a déclaré qu'aucun autre commentaire ne sera fait tant que le Conseil n'aura pas approuvé une ligne d'action spécifique ou déterminé qu'une divulgation supplémentaire est nécessaire.
Middleby (NASDAQ: MIDD), ein führender Hersteller von Geräten für die gewerbliche Gastronomie, Lebensmittelverarbeitung und Wohnküchen, hat eine laufende strategische Prüfung seines Geschäftsportfolios bekannt gegeben. Der Vorstand des Unternehmens, unterstützt von Goldman Sachs und Rechtsberatern, bewertet verschiedene strategische Optionen zur Maximierung des Shareholder Value.
Die im letzten Jahr gestartete Überprüfung umfasst die Überlegung einer potenziellen Trennung der Food Processing und/oder Residential Kitchen Geschäftseinheiten. Das Unternehmen befindet sich in einem fortgeschrittenen Stadium dieser Bewertung und rechnet damit, innerhalb der nächsten Monate zu einer Entscheidung zu gelangen. Middleby erklärte, dass bis zur Genehmigung eines spezifischen Handlungsstrangs durch den Vorstand oder bis zur Feststellung, dass eine zusätzliche Offenlegung erforderlich ist, keine weiteren Kommentare abgegeben werden.
- Strategic review aimed at unlocking unrealized value in business portfolio
- Advanced stages of evaluation with conclusion expected within months
- Professional guidance from Goldman Sachs as financial advisor
- Uncertainty regarding the outcome of the strategic review
- Potential business unit separation could create operational disruption
The Board and management team believe that there is unrealized value in the Company’s business portfolio and have been evaluating a wide range of options and the optimal timing to unlock that value. The Company is in advanced stages of this review and expects to reach a conclusion within the next few months.
There can be no assurance regarding the results or outcome of this review. Middleby does not intend to comment further on its strategic review process unless and until its Board approves a transaction or specific course of action or otherwise determines that further disclosure is appropriate or required.
Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Middleby and Skadden, Arps, Slate, Meagher & Flom LLP is serving as its legal advisor.
About The Middleby Corporation
The Middleby Corporation is a global leader in the foodservice industry. The company develops and manufactures a broad line of solutions used in commercial foodservice, food processing, and residential kitchens. Middleby showcases its advanced solutions in the Middleby Innovation Kitchens for commercial foodservice, industrial baking and protein Innovation Centers for food processing solutions and state-of-the-art, award-winning Middleby Residential showrooms. For more information about Middleby, please visit www.middleby.com.
Forward-Looking Statements
Statements in this press release or otherwise attributable to the Company regarding the Company's business which are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors that could cause actual results to differ materially from such statements. Such factors include variability in financing costs; quarterly variations in operating results; dependence on key customers; international exposure; foreign exchange and political risks affecting international sales; changing market conditions; the impact of competitive products and pricing; the timely development and market acceptance of the Company's products; the availability and cost of raw materials; and other risks detailed herein and from time-to-time in the Company's SEC filings. Any forward-looking statement speaks only as of the date hereof, and the company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250126333893/en/
Investor relations inquiries:
John Joyner
VP of Investor Relations
jjoyner@middleby.com
Media inquiries:
Darcy Bretz
VP of Corporate Communications
dbretz@middleby.com
OR
Matthew Sherman / Sharon Stern / Kaitlin Kikalo
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
MIDD-Media@joelefrank.com
Source: The Middleby Corporation
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