DivestmentMay 11, 2026, 08:02 AM
Middleby's Food Processing Business Renamed Midera; Spin-off July 6
AI Summary
The Middleby Corporation announced that its Food Processing business, which is being separated into a standalone public company, will now operate under the name Midera Food Processing, Inc. The spin-off is expected to be completed on July 6, 2026, with Midera common stock distributed to Middleby stockholders on a one-for-one basis and listed on Nasdaq under the ticker "MFP". The company also announced an Investor Day on May 12, 2026, to outline Midera's growth strategy.
Key Highlights
- Middleby's Food Processing business will operate under the name Midera Food Processing, Inc.
- The separation of Midera into a standalone public company is expected to be completed on July 6, 2026.
- Each Middleby stockholder will receive one share of Midera common stock for every one share of Middleby common stock held.
- Midera intends to list its common stock on The Nasdaq Global Select Market under the ticker symbol "MFP".
- Middleby and Midera will host an Investor Day on May 12, 2026, in New York City.
- Midera Food Processing has a portfolio of over 30 industry-leading brands and employs approximately 2,800 people worldwide.