M&A Deal Summary

Middleby Acquires Icetro

On July 1, 2022, Middleby acquired consumer products company Icetro

Acquisition Highlights
  • This is Middleby’s 7th transaction in the Consumer Products sector.
  • This is Middleby’s 1st transaction in South Korea.

M&A Deal Summary
Date 2022-07-01
Target Icetro
Sector Consumer Products
Buyer(s) Middleby
Deal Type Add-on Acquisition

Target

Icetro

Incheon, South Korea
Icetro is a maker of ice, soft serve, and slush machines that are used worldwide in commercial food service. Icetro was founded in 1981 and is based in Incheon, South Korea.

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Buyer(S) 1

Buyer

Middleby

Elgin, Illinois, United States
Category Company
Founded 1888
Sector Manufacturing
Employees10,722
Revenue 4.0B USD (2023)
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 STATS #
Overall 63 of 74
Sector (Consumer Products) 7 of 7
Type (Add-on Acquisition) 57 of 68
Country (South Korea) 1 of 1
Year (2022) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-29 Proxaut

Modena, Italy

Proxaut is a manufacturer of Auto Guided Vehicles (AGVs) for the food industry and industrial processing companies. Proxaut is based in Modena, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-12 CP Packaging

Appleton, Wisconsin, United States

CP Packaging is a designer and manufacturer of an innovative packaging equipment with a focus on providing technological solutions to the issues facing the packaging industry in general and specifically, packaging within the food industry. CP Packaging was founded in 2003 and is based in Appleton, Wisconsin.

Buy -
Mergr

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