Middleby accelerates acquisition strategy with second Euro takeover in six weeks
The US-based processing machinery outfit said it had purchased the company, which is a subsidiary of SFK systems, a Denmark-based global player in the meat processing sector, as part of a strategy to expand the breadth of its portfolio.
Danfotech manufactures a range of equipment - including meat tenderizers, tumblers, presses and defrosting systems.
The company, which posts annual sales of around US$5m, was originally based in Denmark but moved operations to Kansas in the US in 1999.
"With this acquisition, we further broaden our innovative product offering to our food processing customers,” said Selim A. Bassoul, Middleby chairman and CEO.
He said the acquisition would allow it to improve efficiencies and reduce processing costs for its customers.
“We believe there are opportunities to significantly increase revenues of Danfotech products by leveraging the strength of our existing sales infrastructure and strong customer relationships," the Middleby chief added.
German acquisition
Middleby also unveiled last week it had reached an agreement to buy the net assets of Mauer-Atmos, subject to “certain closing conditions” being resolved.
The company, based in Reichenau, Germany, has approximate annual revenues of US$20m.
It is a supplier in the area of thermal food processing- manufacturing baking ovens, smokehouses, heavy duty intensive cooling units, thawing plants and smoke generators.
“The addition of this brand complements and further strengthens Middleby’s food processing equipment platform,” stressed the US company.
Boosting UK presence
The two acquisitions come just six weeks after Middleby confirmed it had completed the take over of Lincat Group.
The acquisition also added the brands IMC and Brittania to its portfolio.
Lincat, with annual revenues of $90m, produces a raft of processing kit including ovens, fryers, toasters and counterline cooking equipment. IMC is a manufacturer of food processing equipment, and Brittania is a leading supplier of energy efficient and ventless hood systems.
“The addition of these brands complements and significantly strengthens the Middleby presence in the UK,” said Bassoul. “Also, there is an opportunity to greatly expand these respected brands outside of the UK through the well-established Middleby global sales infrastructure.”
No details of any of the acquisitions were disclosed.
