Middleby Completes Kamado Joe and Masterbuilt Acquisition, Announces Addition of Char-Griller
Dec. 29, 2021
“We continue to make strategic acquisitions that strengthen our three industry-leading foodservice platforms,” said Tim FitzGerald, Middleby CEO.
“Char-Griller further adds to our product offerings for the outdoor market and the growing number of backyard cooking enthusiasts. With complementary customers and channels of distribution, Char-Griller provides Middleby Residential with added growth opportunities. There are meaningful synergies to leverage supply chain, manufacturing, product development and distribution capabilities,” Mr. FitzGerald commented. “The addition of Kamado Joe, Masterbuilt and Char-Griller outdoor cooking brands expand the revenues of our Middleby Residential platform to more than $1 billion.”
“We are committed to delivering our residential customers products and innovations to support evolving indoor and outdoor kitchen demands. As we continue to realize operating efficiencies across our entire residential portfolio, profitability has steadily increased for the segment. We have also made significant investments in our showrooms, sales and marketing, distribution capabilities, and international footprint that position us for long-term growth at our residential business,” Mr. Fitzgerald concluded.
Information and terms on the acquisition of Kamado Joe and Masterbuilt is available in a press release announcing the transaction on Dec 6. Click Here