Mergers & Acquisitions ·
On July 6, 2026, Middleby Corporation completed the spin-off of its food processing business into a new independent…
MIDDMIDDLEBY Corp
On July 6, 2026, Middleby Corporation completed the spin-off of its food processing business into a new independent public company, Midera Food Processing, Inc. Middleby distributed 100% of Midera's common stock to its stockholders of record as of June 26, 2026, on a one-for-one basis. Midera is expected to trade on Nasdaq under the symbol "MFP" starting July 7, 2026. To facilitate the transition, the companies entered into Separation, Tax, Employee, Intellectual Property, and Transition Services agreements. Consequently, Robert A. Nerbonne and Cathy T. McCarthy resigned from Middleby's Board, and Matthew R. Fuchsen resigned as Chief Development Officer to join Midera's leadership. Middleby operates in the commercial food equipment industry, designing and manufacturing kitchen equipment for the foodservice and bakery markets.