Middleby had a much aniticipated earnings call today. There was eagerness about it not just because of the usual finiancial highlights. It was also because of rumors that they are working out a deal to sell their Residential Kitchen business which includes their grill brands.
I first speculated that they could go this route about a year ago when they announced that they were performing a strategic review of their overall business. Middleby’s core business is in Commercial and the low margin profile of Residential is dragging down the overall value of the company.
