appliance manufacturer Middleby Corp. has acquired Viking Range
Corp., which makes high-end residential cooking ranges, ovens
and kitchen appliances, for $380 million.
Greenwood, Miss.-based Viking
operates four manufacturing facilities and a distribution
center, according to an investor presentation on the all-cash
transaction. Viking has about $200 million in annual revenues,
according to Elgin, Ill.-based Middleby, which said it will
have the ability to increase production at the sites with
minimal capital expenditure requirements.
Middleby said it expects to
combine and strengthen its purchasing leverage in the supply
chain by buying common items and standardizing common
The acquisition is expected to see Middleby expand its
profits by more than 20 percent within three years, the company