The Middleby Corporation to spin-off its food processing business.

The Middleby Corporation, a manufacturer of innovative cooking equipment, agreed to spin-off its food processing business. “Today’s announcement is the result of a comprehensive review of our business portfolio over the past several quarters and is an important milestone in our work to unlock Middleby’s full value potential. Our team has successfully built a premier food processing business with necessary scale to take this next strategic step, enabling us to best position each of these highly successful businesses,” Tim FitzGerald, Middleby CEO.