Why The Middleby Stock Increased 0.9% (MIDD)

By Amit Chowdhry ● Jan 25, 2023
  • The stock price of Middleby (MIDD) increased by 0.9% in the most recent trading session. This is why.

The stock price of Middleby (MIDD) increased by 0.9% in the most recent trading session.

Why: The Middleby Corporation (MIDD) announced the acquisition of Flavor Burst, an innovative technology used in a variety flavored beverage and soft serve products. The company is based in Danville, Indiana and has annual revenues of $5 million.

KEY QUOTE:

“Flavor Burst provides flavoring systems to enhance customer offerings for soft serve, shakes, slush, smoothies, frozen carbonated beverages, frozen coffees, and frozen cocktails. This technology complements and extends the existing product offerings from our beverage group. Flavor Burst systems can be found in chain restaurants and retail outlets worldwide and are currently used on Taylor equipment, a natural extension of our existing offerings. As part of Middleby and our beverage brand solutions, we are excited for the growth opportunities and providing a more seamless experience for our end users.”

  • Tim FitzGerald, CEO of Middleby