Middleby Purchases TERRY Water Treatment Solutions For Undisclosed Sum
Portfolio Pulse from Shivani Kumaresan
Middleby Corporation (NASDAQ:MIDD) has acquired TERRY Water Treatment Solutions for an undisclosed sum. TERRY, which has $5 million in annual sales, offers an environmentally friendly solution to eliminate and prevent scale build up in commercial foodservice equipment. Middleby held $156.5 million in cash and equivalents as of April 1, 2023. MIDD shares are trading lower by 0.99% at $146.08.
July 05, 2023 | 2:48 pm
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Middleby Corporation has acquired TERRY Water Treatment Solutions. This could potentially enhance Middleby's product offerings and improve its financial performance in the long run.
The acquisition of TERRY Water Treatment Solutions by Middleby Corporation could potentially enhance its product offerings and improve its financial performance in the long run. However, the short-term impact on the stock price is uncertain as the market is yet to fully absorb and react to this news.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100