- Middleby Corp (NASDAQ:MIDD) has acquired Icetro, a maker of ice, soft serve, and slush machines used worldwide in commercial food service. Deal terms were not disclosed.
- Icetro has annual sales of ~$40 million and is headquartered in South Korea, with U.S. operations based in Anaheim, California.
- The acquisition furthers MIDD's Asian manufacturing capabilities. It expands MIDD's offerings in ice, adding a selection of cubed and flaked machines, while its soft serve and slush machines enhance existing product lines with a collection of countertop equipment.
- Icetro's soft serve technology has heat-treat pasteurization capabilities addressing food safety issues.
- Middleby held cash and equivalents of $146.7 million as of April 2, 2022.
- Price Action: MIDD shares are trading lower by 0.27% at $125.05 on the last check Thursday.
