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Announced

The Middleby Corporation acquired Packaging Progressions.

Financials

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Transaction Value-
Consideration Type-
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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packaging solutions

Acquisition

Containers and Packaging

Private

United States

Synopsis

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The Middleby Corporation, an American publicly traded commercial and residential cooking and industrial process equipment company, acquired Packaging Progressions, a market leader in automated packaging technologies for customers in the protein and bakery segments. Financial terms were not disclosed. “Pacproinc has been very successful in the development of highly-engineered, proprietary equipment that automates bacon, deli meat, fresh beef patty, protein alternative patty and pizza crust food processing lines. They have built a reputation as an innovative leader,” said Middleby CEO Tim FitzGerald. “The Pacproinc solutions are highly complementary to our existing processing technologies and will enable Middleby to supply a more complete system to customers and further extend our offerings in new and fast growing categories.”

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