SOURCE: Association for Corporate Growth

February 20, 2008 11:22 ET

The Middleby Corporation Receives ACG Emerging Company Growth Award

CHICAGO, IL--(Marketwire - February 20, 2008) - The Association for Corporate Growth (ACG), the leading authority on corporate growth, corporate development and mergers and acquisitions, today named The Middleby Corporation (NASDAQ: MIDD), a global leader in the commercial cooking, packaging and processing industry, as the winner of its Emerging Company Growth Award.

The ACG Emerging Company Growth Award is a global ACG award that honors one company per year with annual sales of up to $500 million and at least three years of significant growth, exemplary leadership and a high-level of community involvement. The ACG awards committee chose The Middleby Corporation from a competitive selection of ACG Chapter award winners. The Middleby Corporation was nominated by ACG Chicago after winning the ACG Chicago Emerging Company Award in November.

"We are extremely pleased to present The Middleby Corporation with the ACG Emerging Company Growth Award," said ACG Chairman Harris Smith, West Region Managing Partner of Grant Thornton LLP. "Middleby is an outstanding company on an exceptional growth track due to an experienced management team, innovative product line, strategic acquisitions and significant organic growth in domestic and international markets. Middleby's investment in developing the most technologically advanced cooking equipment and its reputation for solid brands has made the company a global leader in the markets it serves."

In recent years, The Middleby Corporation has grown from a manufacturer of a few commercial cooking products to a global industry leader in commercial cooking and processing with 14 manufacturing plants worldwide and more than 20 global sales offices. Under the leadership of Chairman and Chief Executive Selim A. Bassoul, Middleby stock has seen a 1,600 percent increase and sales have more than quadrupled since 2000. The Middleby focus on developing patented technologies in-house delivers economic and safety advantages to customers and has also earned the company international industry awards and honors.

"Winning this award is like winning an Oscar for our company," said Selim Bassoul. "This is such a prestigious award and it spotlights Middleby as a company at the top of its class. There were so many great companies in the ACG chapters worthy of this recognition and for Middleby to be selected as the best among this elite group is a great honor."

"The Middleby investments in developing patented cooking technologies and a solid management team with a global focus have enabled the company to become a leader in its industry," said Daniel P. Howell, co-chair of ACG Chicago's awards committee and senior managing director with Mesirow Financial. "Selim Bassoul and his team have posted consistently strong financials and have demonstrated the ability to thrive despite obstacles in a fiercely competitive environment. The company is also involved in the local communities it serves in an exemplary way."

The Middleby Corporation will be formally recognized at ACG InterGrowth, the world's largest and foremost middle market mergers & acquisitions and corporate growth event, April 9-11 in Orlando, Florida.

The Middleby Corporation joins a prestigious list of international leading growth companies previously honored with the ACG Emerging Company Growth award, including NutriSystems; Blockbuster; Bright Horizons Family Solutions; Buffalo Wild Wings; McAfee Associates; OmniVision Technologies, Panera Bread Company; Sylvan Learning Systems; and U.S. Robotics.

About The Middleby Corporation

The Middleby Corporation is a global leader in the foodservice equipment industry. The company develops, manufactures, markets and services a broad line of equipment used for commercial food cooking, preparation and processing. The company's leading equipment brands serving the commercial foodservice industry include Blodgett®, Blodgett Combi®, Blodgett Range®, Bloomfield®, Carter Hoffmann®, CTX®, Holman®, Houno®, Jade®, Lang®, MagiKitch'n®, Middleby Marshall®, Nu-Vu®, Pitco Frialator®, Star®, Southbend®, Toastmaster® and Wells®. The company's leading equipment brands serving the food processing industry include Alkar®, MP Equipment® and RapidPak®. The Middleby Corporation was recognized by Business Week as one of the Top 100 Hot Growth Companies of 2007, by Crain's Chicago Business as one of the Fastest 50 Growth Companies in 2007, and by Forbes as one of the Best Small Companies in 2006 and 2007.

About ACG

Founded in 1954, the Association for Corporate Growth (ACG) is the leading global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions. Today ACG stands at more than 11,000 members from corporations, private equity, finance, and professional service firms representing Fortune 500, Fortune 1000, FTSE 100, and mid-market companies in 53 chapters in North America and Europe. For more information, please visit: www.acg.org.

Contact Information

  • ACG Contact:
    Jen Dowd
    BackBay Communications, Inc.
    617-536-0255
    Email Contact

    Middleby Corporation Contact:
    Darcy Bretz
    Middleby Corporation
    847-429-7756
    Email Contact