Middleby Corporation (NASDAQ: MIDD) has confirmed that it is currently conducting a strategic review of its business portfolio as part of its board of directors’ efforts to maximize shareholder value. The company has been evaluating a broad range of options including a potential separation of its food processing and/or its residential kitchen business units, among other alternatives.
In the recent period, Middleby Corporation has been focused on unlocking unrealized value within its business portfolio. The company is in advanced stages of the review and expects to reach a conclusion within the next few months. However, there is no assurance regarding the results or outcome of this review.
Goldman Sachs & Co. LLC is serving as the exclusive financial advisor to Middleby, while Skadden, Arps, Slate, Meagher & Flom LLP is serving as its legal advisor.
Middleby Corporation is a global leader in the foodservice industry, developing and manufacturing a broad line of solutions used in commercial foodservice, food processing, and residential kitchens. The company showcases its advanced solutions in the Middleby Innovation Kitchens for commercial foodservice, industrial baking, and protein innovation centers for food processing solutions, as well as state-of-the-art, award-winning Middleby Residential Showrooms. Following these announcements, the company's shares moved 0.5%, and are now trading at a price of $172.54. For the full picture, make sure to review Middleby's 8-K report.
