Middleby Acquires Ireland-Based Marco Beverage Systems For Undisclosed Sum
Middleby Corp (NASDAQ: MIDD) has acquired Marco Beverage Systems, a designer and manufacturer of energy-efficient beverage dispense solutions. The financial terms were not disclosed.
Macro Beverage, based in Dublin, Ireland, has annual revenues of $30 million.
"This acquisition is highly complementary to our growing beverage portfolio, and the Marco product line further expands our offerings in coffee brewers, cold brew dispense, and a variety of hot, cold and sparkling water dispensers," said CEO Tim FitzGerald.
Middleby held $144.9 million in cash and equivalents as of October 1, 2022.
The company develops and manufactures a broad line of solutions used in commercial foodservice, food processing, and residential kitchens.
Price Action: MIDD shares are trading lower by 0.15% at $129.05 on the last check Tuesday.
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