Middleby Acquires EVO America
The Middleby Corporation (NASDAQ:MIDD) today announced the acquisition of EVO America, Inc., a leading design and manufacturer of ventless cooking equipment for the commercial foodservice industry. The company is based near Portland, Oregon and has approximately $8 million in annual revenues.
“The EVO acquisition further adds to our expanding portfolio of ventless cooking solutions. We see a growing demand for diversity in ventless cooking options as operators understand the significant costs associated with the installation of traditional ventilation. Additionally, customers are increasingly in search of solutions that minimize restrictions imposed by externally vented hoods and duct work, as they cook in non-traditional locations and add new equipment to existing kitchens.” said Selim A. Bassoul, Chairman and CEO of The Middleby Corporation. “EVO has a patented ventless technology that can be incorporated into innovative designs that will provide our customers with a smaller footprint and greater flexibility. We believe there is strong growth potential as we integrate the EVO technology with other Middleby brands and cooking solutions and introduce EVO to Middleby’s sales and distribution channels.”
Categories: Development