Middleby to Spin Off Food Processing BU, are Residential and Grills Next?

Along with releasing Q4 2024 earnings today, Middleby had a big announcement. They are going to spin off their Food Processing business unit into a separate publicly traded company. This is the result of the strategic review process that they announced at the end of last month.

Today’s announcement is the result of a comprehensive review of our business portfolio over the past several quarters and is an importantmilestone in our work to unlock Middleby’s full value potential. Our team has successfully built a premier food processing business with necessary scale to take this next strategic step, enabling us to best position each of these highly successful businesses.