Middleby to acquire Novy.

Middleby, an American publicly traded commercial and residential cooking and industrial process equipment company based in Elgi, agreed to acquire Novy, a manufacturer of premium residential ventilation hoods and cooktops based in Belgium. Financial terms were not disclosed. "Novy is recognized for its market leading innovations and product designs, complementing our expanding portfolio of premium residential brands. The business is well-positioned in the built-in cooking segment of the residential market, a category which is growing globally. We believe there are exciting opportunities to realize synergies with our existing residential brands. The introduction of the Novy brand and products into the US and UK markets, where Middleby Residential is well-established, will further accelerate the company’s sales," Tim FitzGerald, Middleby CEO.