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New Deal


Announced

Completed

Middleby completed the acquisition of Synesso.

Financials

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

Tags

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Private

Single Bidder

espresso machines

Completed

United States

Household Equipment and Products

Majority

Acquisition

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Synopsis

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Middleby, an American publicly traded commercial and residential cooking and industrial process equipment company, completed the acquisition of Synesso, a designer and manufacturer of semi-automatic espresso machines for the commercial market. Financial terms were not disclosed. "Synesso is a highly innovative brand and further expands our coffee and beverage platform. Middleby is well-positioned within the beverage category offering some of the most advanced equipment in today’s fast-growing coffee market. Our Seattle-based coffee companies are able to provide operators with a variety of sought-after options including automated bean to cup, cold brew, nitro brew, traditional carafe and now semi-automatic espresso. There are strong synergies between Synesso and our current US coffee brands Concordia, JoeTap and Ss Brewtech. Together, as a group, Middleby is a leader in the industry with coffee diversity and innovation," Tim FitzGerald, Middleby CEO.

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