Middleby (MIDD) Buys TERRY, Enhances Commercial Foodservice
The Middleby Corporation MIDD has acquired TERRY Water Treatment Solutions, bolstering its commercial foodservice operations. Headquartered in Chandler, AZ, TERRY offers environmentally friendly solution to eliminate and prevent scale build up in commercial food service equipment.
TERRY products use Citryne, a chemical free and biodegradable solution, which is effective in the removal and prevention of water scale. TERRY has been a partner with several Middleby brands, serving MIDD’s customers with improved equipment performance, reduced maintenance and superior quality of food, ice and beverage.
Middleby focuses on expanding its market share, product offerings and customer base through strategic acquisitions. In June 2023, the company acquired Filtration Automation Inc., boosting its food processing portfolio and frying system offerings. In January, it acquired Flavor Burst, which complements its existing product offerings in the beverage group.
The Middleby Corporation Price
The Middleby Corporation price | The Middleby Corporation Quote
The acquisition of Marco Beverage Systems in December 2022 complemented MIDD’s existing beverage portfolio, expanding 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 Middleby leverage the former’s automated dough mixing solutions and line capacity utilization to produce premium quality bakery items with a longer shelf life, thus reducing production costs and eliminating the usage of dough additives.
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 presently carries a Zacks Rank #2 (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 (Strong Buy) stocks here.
Flowserve has an estimated earnings growth rate of 64.5% for the current year. Shares of the company have gained 27.6% in a year.
Graco GGG currently carries a Zacks Rank #2. 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 37.6% in a year.
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