Middleby Acquires Viking Range
Middleby (NAS: MIDD) has acquired kitchen equipment maker Viking Range, it announced in an official press release. The price was $300 million in cash.
The privately held Viking Range is headquartered in Mississippi, and specializes in the manufacture of high-end cooking ranges for the residential market, as well as ovens and various kitchen appliances.
Middleby's statement quoted its CEO Selim Bassoul as saying of the purchase that it "allows us to integrate our own patented technologies that will have a huge appeal to consumers for their residential kitchens."
According to Middleby, Viking Range has roughly $200 million in annual revenues.
The article Middleby Acquires Viking Range originally appeared on Fool.com.Eric Volkman has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.