Middleby Expands Offerings In Ice - Read How

June 30, 2022 2:18 PM | 1 min read |

Middleby Corp MIDD has acquired Icetro, a maker of ice, soft serve, and slush machines used worldwide in commercial food service. Deal terms were not disclosed.
Icetro has annual sales of ~$40 million and is headquartered in South Korea, with U.S. operations based in Anaheim, California.
The acquisition furthers MIDD's Asian manufacturing capabilities. It expands MIDD's offerings in ice, adding a selection of cubed and flaked machines, while its soft serve and slush machines enhance existing product lines with a collection of countertop equipment.
Icetro's soft serve technology has heat-treat pasteurization capabilities addressing food safety issues.
Middleby held cash and equivalents of $146.7 million as of April 2, 2022.
Price Action: MIDD shares are trading lower by 0.27% at $125.05 on the last check Thursday.

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.