The Middleby Corporation
) witnessed a healthy response from the market post the
announcement of its acquisition of California-based Automatic Bar
Controls, Inc. for an undisclosed amount. Middleby share prices
rose 4.7% on the news to settle at $240.32 on Dec 20.
With average annual revenues of roughly $30.0 million,
Automatic Bar Controls offers beverage dispensing systems and
food sauce dispensing systems to cater to the foodservice
industry. The products serve refrigerated and non-refrigerated
toppings, pizza sauces, salad dressings, condiments, oils and
Automatic Bar Controls pursues product innovation, customer
satisfaction, and superior operating performance to maintain high
overall quality. The strong market position of the company will
help Middleby gain a strong foothold in the beverage equipment
Middleby has a robust track record of successful acquisitions,
which have been contributing significantly to the total revenue.
In the past twelve months, Middleby acquired Celfrost, Spooner
Vicars, Viking and Nieco. These acquisitions contributed roughly
$71.8 million in revenues or 27.9% of the revenue growth in the
third quarter of 2013. The company expects these acquisitions to
be further accretive in the coming quarters.
Additionally, with the advent of latest technologies, Middleby
predicts a healthy market share gain in the near future
leveraging its goodwill. The company offers a wide range of
products to its target markets and is constantly innovating to
Middleby provides cooking, warming, food preparation and
packaging equipment to the commercial, industrial processing and
residential markets. The company currently carries a Zacks Rank
Other stocks worth considering in the industry include
DXP Enterprises, Inc.
). While Xylem carries a Zacks Rank #1 (Strong Buy), DXP
Enterprises and Graham hold a Zacks Rank #2 each.
DXP ENTERPRISES (DXPE): Free Stock Analysis
GRAHAM CORP (GHM): Free Stock Analysis Report
MIDDLEBY CORP (MIDD): Free Stock Analysis
XYLEM INC (XYL): Free Stock Analysis Report
To read this article on Zacks.com click here.