Vitale & Co. advised The Middleby Corporation (NASDAQ: MIDD) in the acquisition of Firex Srl. The company is a leading manufacturer of steam cooking equipment for the commercial foodservice industry. Based in Sedico, Italy, Firex has approximately $20 million USD in annual revenues.
Selim Bassoul, CEO of The Middleby Corporation said
“The Firex acquisition extends our product offerings in steam and sous vide cooking, categories which continue to grow due to health benefits and enhanced food quality. Firex products are highly innovative and include automated features allowing for reduced labor, increased capacity and standardization of cooking processes. We see expanded opportunities for growth as we introduce Firex products in the U.S. to complement our current equipment lineup and in the international markets leveraging our infrastructure and customer relationships globally.”