Middleby to acquire Follett Corp.

ELGIN - The Middleby Corp. announced the acquisition of Follett Corp., a manufacturer of ice machines, ice and water dispensing equipment, ice storage and transport products and medical grade refrigeration products for the food service and health care industries.

Terms of the acquisition were not announced. Follett, which is headquartered in Easton, Penn., has approximately $140 million in annual revenues.

"Follett is a highly respected, industry leading brand in food service and health care markets with a long-standing reputation for innovation. Follett offers unique product solutions to help customers improve safety, sanitation, labor productivity and water and electric usage," said Selim A. Bassoul, Chairman and CEO of The Middleby Corporation. "Follett is a strategic fit with our growing beverage platform, complementing existing Middleby brands in a number of domestic and international market niches, and providing for opportunities to offer combined beverage and ice solutions. We are excited about Follett's past record of growth and its strong position for future growth, which will be further enhanced within the broader Middleby group."

Most recently, Follett announced the launch of its new Horizon Elite ice machines. Horizon Elite series Chewblet ice machines have a new water management design that offers food service operators a low cost of ownership and superior performance even in the most challenging water conditions.