The Middleby Corporation acquires Nieco Corporation

The Middleby Corporation acquired Nieco Corporation for $23.9 million, a transaction completed in October 2012, structured as all cash.

Nieco Corporation operates in Commercial Foodservice. Middleby announced in October 2012 the acquisition of Nieco Corporation, a Windsor, California maker of automatic broilers for commercial foodservice, with annual revenue of roughly $20 million. Founded in 1905, Nieco had recently introduced BroilVection, a patented hybrid broiling technology combining radiant broiling with natural and forced convection. Its automated broiling equipment complemented Middleby's efficiency-focused cooking technologies, serving large quick-service restaurant customers.

Added automated broiling technology serving major chain customers.

Advisory firms were not disclosed for this transaction.

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