About This Deal

The Middleby Corporation acquired CookTek LLC for $9 million, a transaction completed in April 2009, structured as all cash.

CookTek LLC operates in Commercial Foodservice. CookTek is a leader in the manufacture of induction cooking and warming systems for the commercial foodservice industry, with approximately $10 million in annual sales. Financed under Middleby's senior revolving credit facility, with an additional earnout.

Added induction technology, which is 30% to 50% more efficient than traditional gas and electric ranges and can be used without a vent or hood, complementing Middleby's portfolio of innovative cooking technologies.

Deal Terms

Acquirer
The Middleby Corporation
Target
CookTek LLC
Value
$9 million
Date
April 2009
Type
Full acquisition
Status
Ready

Transaction Details

Segment
Commercial Foodservice
Structure
All cash
Closed
April 27, 2009

Advisors

Advisory firms were not disclosed for this transaction.

Related Deals & Entities

Sources: SEC filing ↗

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