The Middleby Corporation Acquires Nu-Vu Food Service Systems</titl= e> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"country-region"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"State"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"stockticker"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"date"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"place"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"City"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"time"/>  <style>  </style>  </head> <body lang=3DEN-US style=3D'tab-interval:.5in'> <div class=3DSection1> The Middleby Corporation Acquires Alkar Holdings, Inc.<o:p></o:p></= b> <o:p> </o:p></sp= an> &nbs= p; <st1:place w:st=3D"on"><st1:City w:st=3D"on">ELGIN</st1:City>, <st1:State w:st=3D"on">= Ill.--</st1:State></st1:place>(BUSINESS <st1:stockticker w:st=3D"on">WIRE</st1:stockticker>)—<st1:date Month= =3D"12" Day=3D"7" Year=3D"2005" w:st=3D"on">December 7, 2005</st1:date>--The Middle= by Corporation (NASDAQ:<st1:stockticker w:st=3D"on">MIDD</st1:stockticker>) today announce= d the acquisition of Alkar Holdings, Inc. (“Alkar”) for $26.7 million= in cash, subject to post close working capital adjustment. The acquired company manufactures b= atch and conveyor ovens and related packaging equipment for the food processing industry under the Alkar and RapidPak brands. The company has approximately $60 m= illion in annual sales and serves a market of an estimated $500 million in the <st= 1:country-region w:st=3D"on"><st1:place w:st=3D"on">US</st1:place></st1:country-region> and = an estimated market of $1 billion internationally. This acquisition is anticipated to be accretive to Middleby’s = net earnings in 2006. <o:p> </o:p> &nbs= p; This transaction fits Middleby’s criteria of acquiring companies that are = #1 or #2 in the markets they serve, are focused on cooking, and have patented = technologies. Chairman and Chief Executive Offic= er, Selim A. Bassoul, commented "The purchase of Alkar allows Middleby to = add to its portfolio of leading brands in cooking. Alkar is recognized as the leader = in the industry due to the high quality of its product and its strong relationship with its customers. Alkar has= a strong track record of technological innovation and is positioned for growth due to its pipeline of new differentiated products. In addition, Middleby will bring a competitive advantage to Alkar’s customers through the sharing of existing patented technologies. Alkar’s global customers have similar needs to Middleby’s existing chain customers, including automation, s= peed of cooking, food safety, and capacity.” <o:p> </o:p> &nbs= p; Mr. Bassoul continued, “Like Middleby, Alkar’s growth is driven by increasing demand for prepared and convenience foods, as fewer meals are be= ing prepared at home. We see this= worldwide trend particularly strong in emerging markets where Middleby’s global infrastructure and expertise may benefit Alkar.” <o:p> </o:p> &nbs= p; Mr. Bassoul concluded, “Alkar currently manufactures its products in <st1= :place w:st=3D"on"><st1:City w:st=3D"on">Lodi</st1:City>, <st1:State w:st=3D"on">W= isconsin</st1:State></st1:place> in a similar fashion to Middleby’s existing business operations. In the near term, we will focus on integrating the Alkar operations into the Middleby group, and expect to rea= lize efficiency gains through this process.” <o:p> </o:p> &nbs= p; A conference call will be held at <st1:time Hour=3D"11" Minute=3D"0" w:st=3D"= on">11 a.m.</st1:time> eastern time on Thursday, December 8. Members of the financial community= can access the conference by dialing (800)367-5339 and providing the operator conference ID 328596. A repla= y of the conference call will be available for two weeks by dialing (800) 642-16= 87. A transcript of the call will be p= osted to the website. <o:p> </o:p> &nbs= p; Statements in this press release or otherwise attributable to the Company regarding the Company's business which are not historical fact are forward-looking statem= ents made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. </spa= n>The Company cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors th= at could cause actual results to differ materially from such statements. Such factors include variability in financing costs; quarterly variations in operating results; dependence on key customers; international exposure; for= eign exchange and political risks affecting international sales; changing market conditions; the impact of competitive products and pricing; the timely development and market acceptance of the Company's products; the availabili= ty and cost of raw materials; and other risks detailed herein and from time-to= -time in the Company's <st1:stockticker w:st=3D"on">SEC</st1:stockticker> filings= . <o:p> </o:p> &nbs= p; The Middleby Corporation is a global leader in the foodservice equipment indust= ry. The company develops, manufactures, markets and services a broad line of equipment used for cooking and food preparation in commercial and instituti= onal kitchens, restaurants, and food preparation companies throughout the world.= The company's leading equipment brands include Alkar®, Blodgett®, Blodg= ett Combi®, Blodgett Range®, <st1:stockticker w:st=3D"on">CTX</st1:stoc= kticker>®, MagiKitch'n®, Middleby Marshall®, Pitco Frialator®, RapidPak&re= g;, Southbend®, and Toastmaster®. Middleby's international subsidiary, Middleby Worldwi= de, is a leading exporter and distributor of foodservice and the Middleby Philippines Corporation, is a leading supplier of foodservice equipment in = the Asian markets. In 2005 The Middleby Corporation was ranked #10 on Forbes 200 Best-Run Small Companies and #28 on the FORTUNE Fastest Growing Companies l= ist. </= span> &nbs= p; For further information about The Middleby Corporation, visit www.middleby.com.= <o:p> </o:p> &nbs= p; CONTACT: Darcy Bretz, 847-429-77= 56 <o:p> </o:p> </div> </body> </html>

MIME-Version: 1.0 Content-Location: file:///C:/09631EF2/AlkarPressReleaseV2.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" The Middleby Corporation Acquires Nu-Vu Food Service Systems</titl= e> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"country-region"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"State"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"stockticker"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"date"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"place"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"City"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"time"/>  <style>  </style>  </head> <body lang=3DEN-US style=3D'tab-interval:.5in'> <div class=3DSection1> The Middleby Corporation Acquires Alkar Holdings, Inc.<o:p></o:p></= b> <o:p> </o:p></sp= an> &nbs= p; <st1:place w:st=3D"on"><st1:City w:st=3D"on">ELGIN</st1:City>, <st1:State w:st=3D"on">= Ill.--</st1:State></st1:place>(BUSINESS <st1:stockticker w:st=3D"on">WIRE</st1:stockticker>)—<st1:date Month= =3D"12" Day=3D"7" Year=3D"2005" w:st=3D"on">December 7, 2005</st1:date>--The Middle= by Corporation (NASDAQ:<st1:stockticker w:st=3D"on">MIDD</st1:stockticker>) today announce= d the acquisition of Alkar Holdings, Inc. (“Alkar”) for $26.7 million= in cash, subject to post close working capital adjustment. The acquired company manufactures b= atch and conveyor ovens and related packaging equipment for the food processing industry under the Alkar and RapidPak brands. The company has approximately $60 m= illion in annual sales and serves a market of an estimated $500 million in the <st= 1:country-region w:st=3D"on"><st1:place w:st=3D"on">US</st1:place></st1:country-region> and = an estimated market of $1 billion internationally. This acquisition is anticipated to be accretive to Middleby’s = net earnings in 2006. <o:p> </o:p> &nbs= p; This transaction fits Middleby’s criteria of acquiring companies that are = #1 or #2 in the markets they serve, are focused on cooking, and have patented = technologies. Chairman and Chief Executive Offic= er, Selim A. Bassoul, commented "The purchase of Alkar allows Middleby to = add to its portfolio of leading brands in cooking. Alkar is recognized as the leader = in the industry due to the high quality of its product and its strong relationship with its customers. Alkar has= a strong track record of technological innovation and is positioned for growth due to its pipeline of new differentiated products. In addition, Middleby will bring a competitive advantage to Alkar’s customers through the sharing of existing patented technologies. Alkar’s global customers have similar needs to Middleby’s existing chain customers, including automation, s= peed of cooking, food safety, and capacity.” <o:p> </o:p> &nbs= p; Mr. Bassoul continued, “Like Middleby, Alkar’s growth is driven by increasing demand for prepared and convenience foods, as fewer meals are be= ing prepared at home. We see this= worldwide trend particularly strong in emerging markets where Middleby’s global infrastructure and expertise may benefit Alkar.” <o:p> </o:p> &nbs= p; Mr. Bassoul concluded, “Alkar currently manufactures its products in <st1= :place w:st=3D"on"><st1:City w:st=3D"on">Lodi</st1:City>, <st1:State w:st=3D"on">W= isconsin</st1:State></st1:place> in a similar fashion to Middleby’s existing business operations. In the near term, we will focus on integrating the Alkar operations into the Middleby group, and expect to rea= lize efficiency gains through this process.” <o:p> </o:p> &nbs= p; A conference call will be held at <st1:time Hour=3D"11" Minute=3D"0" w:st=3D"= on">11 a.m.</st1:time> eastern time on Thursday, December 8. Members of the financial community= can access the conference by dialing (800)367-5339 and providing the operator conference ID 328596. A repla= y of the conference call will be available for two weeks by dialing (800) 642-16= 87. A transcript of the call will be p= osted to the website. <o:p> </o:p> &nbs= p; Statements in this press release or otherwise attributable to the Company regarding the Company's business which are not historical fact are forward-looking statem= ents made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. </spa= n>The Company cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors th= at could cause actual results to differ materially from such statements. Such factors include variability in financing costs; quarterly variations in operating results; dependence on key customers; international exposure; for= eign exchange and political risks affecting international sales; changing market conditions; the impact of competitive products and pricing; the timely development and market acceptance of the Company's products; the availabili= ty and cost of raw materials; and other risks detailed herein and from time-to= -time in the Company's <st1:stockticker w:st=3D"on">SEC</st1:stockticker> filings= . <o:p> </o:p> &nbs= p; The Middleby Corporation is a global leader in the foodservice equipment indust= ry. The company develops, manufactures, markets and services a broad line of equipment used for cooking and food preparation in commercial and instituti= onal kitchens, restaurants, and food preparation companies throughout the world.= The company's leading equipment brands include Alkar®, Blodgett®, Blodg= ett Combi®, Blodgett Range®, <st1:stockticker w:st=3D"on">CTX</st1:stoc= kticker>®, MagiKitch'n®, Middleby Marshall®, Pitco Frialator®, RapidPak&re= g;, Southbend®, and Toastmaster®. Middleby's international subsidiary, Middleby Worldwi= de, is a leading exporter and distributor of foodservice and the Middleby Philippines Corporation, is a leading supplier of foodservice equipment in = the Asian markets. In 2005 The Middleby Corporation was ranked #10 on Forbes 200 Best-Run Small Companies and #28 on the FORTUNE Fastest Growing Companies l= ist. </= span> &nbs= p; For further information about The Middleby Corporation, visit www.middleby.com.= <o:p> </o:p> &nbs= p; CONTACT: Darcy Bretz, 847-429-77= 56 <o:p> </o:p> </div> </body> </html>