The Middleby Corporation acquired Stewart Systems Global, LLC for $27.8 million, a transaction completed in September 2012, structured as all cash. The deal was a Asset purchase.
Stewart Systems Global, LLC operates in Food Processing. Middleby announced in September 2012 the acquisition of Stewart Systems Global, a maker of highly automated proofing and oven systems for the baking industry with annual revenue of about $30 million. The company was described as a long-standing leader in baking systems. Middleby viewed it as complementary to its earlier Auto-Bake and Baker Thermal Solutions acquisitions, offering customers a more integrated baking-system portfolio.
Added automated bakery-line systems to food processing.
Advisory firms were not disclosed for this transaction.