The Middleby Corporation Acquires Belgian Appliance Manufacturer Novy
July 12, 2021
The Middleby Corporation announced the acquisition of Novy, a Belgian manufacturer of premium residential ventilation hoods and cooktops, with Novy generating approximately $90 million in annual sales and EBITDA margins above 20%. The purchase (previously Novy was owned by Sofindev) expands Middleby's residential built-in cooking portfolio and boosts its international presence, with plans to accelerate Novy's introductions into the U.S. and U.K. markets.
- Buyers
- The Middleby Corporation
- Targets
- Novy
- Sellers
- Sofindev (Sofindev IV fund / Sofindev Management NV)
- Industry
- Manufacturing
- Location
- Belgium
- Transaction Type
- Buyout
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