Vitale & Co. advised The Middleby Corporation (NASDAQ: MIDD) in the acquisition of Firex Srl. The company is a leading manufacturer of steam cooking equipment for the commercial foodservice industry. Based in Sedico, Italy, Firex has approximately $20 million USD in annual revenues.
Selim Bassoul, CEO of The Middleby Corporation said
“The Firex acquisition extends our product offerings in steam and sous vide cooking, categories which continue to grow due to health benefits and enhanced food quality. Firex products are highly innovative and include automated features allowing for reduced labor, increased capacity and standardization of cooking processes. We see expanded opportunities for growth as we introduce Firex products in the U.S. to complement our current equipment lineup and in the international markets leveraging our infrastructure and customer relationships globally.”
Over 90 delegates from IMAP member firms representing 32 countries congregated in Miami on October 25th - 27th for IMAP’s 2018 Fall conference. The conference was hosted by Falls River Group, IMAP’s partner firm in Florida, and was set around the theme of ‘Disruptive Innovation’.