Middleby Corp. (MIDD), Tuesday announced the acquisition of Italy-based Gorreri Food Processing Technology, a manufacturer of equipment for the baked goods industry. The financial terms of the deal have not been disclosed.
The company expects the acquisition to strengthen its offerings in the cake and dessert categories, and add a broad line of complementary products to its food processing group.
Currently, Middleby's stock is trading at $144.05, down 1.99 percent on the Nasdaq.
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