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WIKI ANALYSIS
Middleby Corporation (NASDAQ: MIDD) is a leading manufacturer of commercial cooking equipment. The company has 17 offices worldwide and manufacturing facilities in Illinois, North Carolina, Vermont, New Hampshire, Michigan, Wisonsin, Georgia, Denmark and the Philipines. Middleby has over 1,600 employees and is headquartered in Chicago, Illinois.
Key Company Highlights
- #1 or #2 market position in U.S. across most product lines
- Established and well-respected brands recognized for innovative technology, efficiency and quality
- Strong relationships with premier customers, including McDonald's (MCD), Kraft Foods (KFT), Costco Wholesale (COST), Sara Lee (SLE), Domino's Pizza (DPZ), Hormel Foods (HRL) and P.F.Chang's China Bistro (PFCB)[1]
Operating Segments
- Food Processing Equipment (15% of sales)
- Commercial Food Service Equipment (85% of sales)
Industry Outlook and Growth Plans
The commercial cooking market is in excess of $3 billion and is highly fragmented. The food processing equipment market is in excess of $1.5 billion and is also highly fragmented. Middleby plans to focus on premier customer relationships and superior technology. The company plans to grow through new product offerings, acquisitions, and international expansion.[2]
References
1. Investor Presentation, Baird Industrial Conference, Nov. 6, 2007
2. Investor Presentation, Biard Industrial Conference, Nov. 6, 2007
References
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