Middleby (MIDD) Acquires Escher Mixers, Adds to Bakery Brands
The Middleby Corporation MIDD has acquired Escher Mixers, a manufacturer of spiral and planetary mixers. Based in Vicenza, Italy, Escher generates annual revenues of $15 million.
The acquisition builds on Middleby’s existing bakery brands, offering full-line integrated solutions for lower operating costs and enhanced production efficiencies.
Escher’s automated dough mixing solutions and line capacity utilization will help MIDD reduce product production costs and eliminate the usage of dough additives to produce premium quality bakery items with a longer shelf life.
The Middleby Corporation Price
The Middleby Corporation price | The Middleby Corporation Quote
Middleby has carried out a series of acquisitions to expand market share, product offerings and customer base. In July, the company acquired Colussi Ermes, expanding its food processing solutions. The buyout of CP Packaging in the same month expanded its manufacturing operations in the Food Processing Equipment Group by boosting packaging equipment offerings. In July, MIDD also acquired Icetro, adding to its growing portfolio of beverage brands, expanding its Asian manufacturing capabilities and providing solutions to support customers expanding in the international markets.
In June, Middleby acquired Proxaut, a provider of Auto Guided Vehicles, to the industrial processing companies and the food industry, strengthening its product offerings in the food processing end market. The company also acquired several businesses in 2021.
Zacks Rank & Key Picks
Middleby currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies within the broader Industrial Products sector are as follows:
Enerpac Tool Group Corp. EPAC delivered an average four-quarter earnings surprise of 3.4%. EPAC presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
Enerpac Tool’s estimated earnings growth rate for the current fiscal year is 44.6%. Shares of the company have jumped 33.1% in the past six months.
Applied Industrial Technologies, Inc. AIT presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 24.8%, on average.
Applied Industrial has an estimated earnings growth rate of 14.3% for the current fiscal year. Shares of the company have gained 23% in the past six months.
IDEX Corporation IEX presently has a Zacks Rank of 2 (Buy). IDEX pulled off a trailing four-quarter earnings surprise of 5.7% on average.
IDEX has an estimated earnings growth rate of 28.3% for the current year. Shares of the company have rallied 26.3% in the past six months.
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