Divestiture • Manufacturing

26North and Middleby Acquire Middleby Corp s Residential Kitchen Business

On December 4, 2025, private equity firm 26North and Middleby acquired manufacturer Middleby Corp s Residential Kitchen Business from Middleby

Acquisition Context
  • This is 26North’s 1st and Middleby’s 17th transaction in the Manufacturing sector.
  • This is 26North’s 4th and Middleby’s 46th transaction in the United States.
  • This is 26North’s 1st and Middleby’s 5th transaction in Illinois.

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M&A Deal Summary

Date December 4, 2025
Target Middleby Corp s Residential Kitchen Business
Sector Manufacturing
Buyer(s) 26North
Middleby
Sellers(s) Middleby
Deal Type Divestiture

Target Company

Middleby Corp s Residential Kitchen Business

Elgin, Illinois, United States
Middleby Corp's Residential Kitchen Business brings together a collection of residential equipment brands, including Viking, AGA Rangemaster, La Cornue, Kamado Joe, Marvel, Novy, and U-Line.
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Buyers Overview 2

Buyer

26North

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2022
PE ASSETS 30.0B USD
Size Small
Type Sector Agnostic
DESCRIPTION

26North is an alternative investment platform that partners with institutional, private, and family office clients to deliver private equity, private credit, and structured investment solutions. The Firm looks to partner with target companies, investing flexibly across the industrials, business services, tech, media, financial services, and insurance sectors. 26North was founded in 2022 and is headquartered in New?York, New?York.


Deal Context for Buyer #
Overall 4 of 4
Sector: Manufacturing 1 of 1
Type: Divestiture 1 of 1
State: Illinois 1 of 1
Country: United States 4 of 4
Year: 2025 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-17 NEP Group

Pittsburgh, Pennsylvania, United States

NEP is a media services partner for live sports and entertainment that offers a network of experts, cutting-edge technology, and an expansive portfolio of customer-driven, innovative solutions. Through operations in 25 countries, its teams have supported thousands of major productions and events on every continent with excellence and reliability. NEP was formed in 1986 and is based in Pittsburgh, Pennsylvania.

Buy -
Buyer

Middleby

Elgin, Illinois, United States

Category Company
Founded 1888
Sector Manufacturing
Employees10,616
Revenue 3.9B USD (2024)
DESCRIPTION

Middleby designs, manufactures, markets, distributes, and services a broad line of food service equipment used in all types of commercial restaurants and institutional kitchens, food preparation, cooking, baking, chilling, and packaging equipment for food processing operations, and premium kitchen equipment including ranges, ovens, refrigerators, ventilation, and dishwashers primarily used in the residential market. Middleby was founded in 1888 and is based in Elgin, Illinois.


Deal Context for Buyer #
Overall 77 of 77
Sector: Manufacturing 17 of 17
Type: Divestiture 6 of 6
State: Illinois 5 of 5
Country: United States 46 of 46
Year: 2025 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-13 Oka

Darmstadt, Germany

Oka designer and manufacturer of industrial extrusion, molding, depositing, and cutting industrial production equipment in bakery, confectionery, and pet-food markets. Oka was founded in 1857 and is based in Darmstadt, Germany.

Buy -

Seller Profile 1

SELLER

Middleby

Elgin, Illinois, United States

Category Company
Founded 1888
Sector Manufacturing
Employees10,616
Revenue 3.9B USD (2024)
DESCRIPTION

Middleby designs, manufactures, markets, distributes, and services a broad line of food service equipment used in all types of commercial restaurants and institutional kitchens, food preparation, cooking, baking, chilling, and packaging equipment for food processing operations, and premium kitchen equipment including ranges, ovens, refrigerators, ventilation, and dishwashers primarily used in the residential market. Middleby was founded in 1888 and is based in Elgin, Illinois.


Deal Context for Seller #
Overall 1 of 1
Sector: Manufacturing 1 of 1
Type: Divestiture 1 of 1
State: Illinois 1 of 1
Country: United States 1 of 1
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-13 Oka

Darmstadt, Germany

Oka designer and manufacturer of industrial extrusion, molding, depositing, and cutting industrial production equipment in bakery, confectionery, and pet-food markets. Oka was founded in 1857 and is based in Darmstadt, Germany.

Buy -