Foodservice equipment manufacturer Middleby expands its portfolio of cooking products through the purchase of an Australia-based oven maker.
The Middleby Corporation (NASDAQ: MIDD) has acquired Beech Ovens, Pty. Ltd., an Australia-based manufacturer of stone hearth ovens for the commercial foodservice industry located. Beech generates approximately $10 million in annual sales, according to a Middleby release.
Beech's product line also includes tandoor ovens, rotisserie ovens, and specialty cooking equipment. "Beech is particularly strong in emerging markets such as India, China, and Middle East, where the demand for display cooking is growing with the expansion of hotels and resorts," said Selim A. Bassoul, Middleby chairman and chief executive officer. "We also excited about the opportunity to expand the presence of Beech products in the North American market."