Premium diversified machinery company Middleby Corp. MIDD recently acquired Lynx Grills, Inc. (LYNX) for an undisclosed amount. The buyout deal comes as part of Middleby’s efforts to fortify its residential brands’ product portfolio as well as boost its inorganic growth trajectory.
Lynx Grills had been privately held by Century Park Capital Partners, LLC since 2006. The company’s products are popular in the market for their innovative features, superior quality and unique design. In short, the firm is regarded as a leader in the outdoor cooking market.
Under the brand BECA, Lynx Grills has conventionally manufactured stainless steel products for the global commercial restaurant market. Over time, the company has strengthened its traditional product portfolio with unique technologies. WiFi-enabled grilling machine, voice-activated SmartGrill system and specialized rust grills are some of the popular products offered by the firm in recent times.
Middleby provides cooking, warming, food preparation and packaging equipment to commercial, industrial processing and residential markets. The company offers its services through three major segments, namely, Commercial Foodservice Equipment Group, Food Processing Equipment Group and Residential Kitchen Equipment Group. We believe the acquisition of Lynx Grills would help Middleby offer non-imitable ranges of outdoor kitchen products in the market. This, in turn, would support the company’s top-line figures in the near future.
Stocks to Consider
Middleby presently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the industry include Aggreko plc ARGKF, CUI Global, Inc. CUI and Energy Recovery, Inc. ERII. All three stocks hold a Zacks Rank #2 (Buy).
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