Middleby (MIDD) Acquires Micron-Pro Brand Filtration Automation
The Middleby Corporation MIDD has acquired Mansfield, TX-based Filtration Automation Inc., a Micron-Pro brand high-capacity oil management systems company.
The acquired entity’s Micron-Pro filtration system will provide MIDD’s customers with significant savings on oil and enhance food quality. The buyout boosts Middleby’s food processing portfolio, expanding its frying system offerings. It enables the company to provide enhanced automated full-line solutions.
The Micron-Pro Filtration Automation’s low-pressure oil debris removal system will help Middleby extend oil life up to 200%, reducing inputs costs, generating labor savings and increasing throughput.
The Middleby Corporation Price
The Middleby Corporation price | The Middleby Corporation Quote
Middleby aims to expand its market share, product offerings and customer base through strategic acquisitions. In January, the company acquired Flavor Burst, boosting its product offerings in the beverage group. The December 2022 buyout of Marco Beverage Systems also expanded MIDD’s beverage portfolio, boosting its cold brew dispense, coffee brewers, and a variety of hot, cold and sparkling water dispenser offerings.
The November 2022 acquisition of Escher Mixers helped MIDD reduce production costs and eliminate the usage of dough additives to produce premium quality bakery items with a longer shelf life by leveraging Escher’s automated dough mixing solutions and line capacity utilization. Successive acquisitions are contributing substantially to the company’s top line. Acquired assets boosted sales by 4% in the first quarter of 2023.
Zacks Rank & Key Picks
Middleby carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
Flowserve FLS currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 2.5%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Flowserve has an estimated earnings growth rate of 64.5% for the current year. Shares of the company have gained 27% in a year.
Graco GGG currently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 7.9%, on average.
Graco has an estimated earnings growth rate of 16.4% for the current year. Shares of the company have rallied 46.7% in a year.
Ingersoll Rand IR presently sports a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 12.6%, on average.
Ingersoll Rand has an estimated earnings growth rate of 14.8% for the current year. Shares of the company have jumped 46.4% in a year.
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The Middleby Corporation (MIDD) : Free Stock Analysis Report
