Middleby Net Worth is$951 M Sales
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Middleby (Nasdaq: MIDD) sells ovens and other food preparation and packaging equipment. It was founded in 1888 under the Middleby Marshall Oven Company name and changed its name to The Middleby Corporation in 1985. It is headquartered in Elgin, Ill.

This small-cap company sells ovens and cookers of all types. Conveyor belt ovens, convection ovens, fryers, baking ovens, broilers, and steam cooking equipment. It also offers food preparation equipment, such as breaders, batterers, and mixers, along with packaging and food safety equipment. It sells these to restaurants of all sizes, hotels, and convenience stores.

It had been selling other items such as freezers and deli cases, but a new management team narrowed the company's focus beginning about 2000. By giving up a lot of revenue, many investors fled, but the turnaround has helped the company perform well in recent years. The higher margin ovens let the company focus on one major line, selling to such names as McDonald's, Wendy's, Subway, Papa John's and Domino's. The strategy worked, as net margin improved from low single digits in the late 1990s to about 10% today.

The company acquired its century-old primary competitor, The Blodgett Oven Company, in 2001 as part of this refocusing and then went on an intense campaign to raise sales and reduce debt. It has since acquired other competitors, both to reduce competition and to expand its own product line in its area, recently acquiring TurboChef.

Middleby Latest News

The Middleby Corporation Reports Second Quarter Results

Net earnings per share increased 5.5% to $1.35 in the second quarter as compared to $1.28 in the prior year quarter. Net earnings in the current second quarter were reduced by restructuring expenses, non-cash expenses associated with the finalization of ...
Posted: August 9, 2017, 7:21 pm

Auto-Bake elects new president

ELGIN, ILL. — Auto-Bake, part of the Middleby Bakery Group, promoted Scott McCally to the position of president. “Under his leadership, the Auto-Bake team will be introducing the next generation of baking systems for bread, buns and artisan breads ...
Posted: August 18, 2017, 5:19 am

Form 8-K MIDDLEBY CORP For: Aug 09

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 ...
Posted: August 10, 2017, 9:19 am

Mn Services Vermogensbeheer B.V. Acquires 7,807 Shares of The Middleby Corporation (MIDD)

Mn Services Vermogensbeheer B.V. boosted its position in The Middleby Corporation (NASDAQ:MIDD) by 508.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,342 shares of the ...
Posted: August 6, 2017, 8:26 am

Forget the Kitchen -- Middleby's Being Taken Out to the Woodshed

The Middleby Corporation (NASDAQ: MIDD), an industry leader in equipment for professional kitchens, released financial results for the second time in as many quarters that caused investors to sell first and ask questions later. A quick review of the ...
Posted: August 16, 2017, 6:36 am
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