January 10, 2005
Middleby Buys Nu-Vu
The Middleby Corp., Elgin, Ill., has acquired Nu-Vu Food Service Systems, a maker of cooking and baking equipment located in Menominee, Mich.
Middleby purchased the firm, along with the Wilder brand of holding cabinets, from Garden City, N.J.-based Win-Holt Equipment Corp. for approximately $12 million in cash. According to Middleby, the core product lines acquired in the deal record annual sales of about $10 million.
Nu-Vu, which counts among its customers the Subway QSR chain, will continue to operate in Menominee under its current management team.
"The addition of Nu-Vu puts Middleby in a strong position to capitalize on the fast-growing trend of on-premise baking," said Selim Bassoul, chairman, president and CEO of Middleby.
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