Illinois-based Middleby Corporation has officially completed its acquisition of United Kingdom company Lincat Group plc for approximately $90 million U.S. dollars.
The Lincat Group has annual revenues of approximately $50 million. The acquisition adds three leading U.K. brands to Middleby's portfolio, including Lincat, IMC and Brittania.
"The addition of these brands complements and significantly strengthens the Middleby presence in the U.K. Also, there is an opportunity to greatly expand these respected brands outside of the U.K. through the well-established Middleby global sales infrastructure," said Selim A. Bassoul, chairman and chief executive of The Middleby Corporation.
Lincat is a leading manufacturer of a broad range of cooking products including ranges, ovens, fryers, toasters and counterline cooking equipment. IMC is a leading manufacturer of food processing equipment, and Brittania is a leading supplier of energy efficient and ventless hood systems.
The Lincor sale comes shortly after Middleby's acquisition of Australia's Beech Ovens.