Elgin's Middleby acquires two more companies
ELGIN -- The Middleby Corp. announced the acquisition of two companies.
It acquired CVP Systems, a Downers Grove-based manufacturer of high-speed packaging systems for the meat processing industry. Middleby also acquired Sweden-based Sveba Dahlen Group, which develops and manufactures ovens and baking equipment for the commercial food service and industrial baking industries.
Terms of both deals were not disclosed.
CVP makes modified atmosphere packaging, a type of packaging technology that extends the shelf life of food by removing air and introducing a more beneficial environment during packaging.
"The addition of CVP further deepens the capabilities of our food processing group with a highly complementary technology to our product portfolio," said Selim A. Bassoul, chairman and CEO of The Middleby Corp. "With this acquisition we add a highly respected brand and continue to strengthen the portfolio of comprehensive solutions that we offer our customers in the food processing industry."
Dahlen Group markets its products under three leading brands, Sveba Dahlen, Glimek and Bear Varimixer.
"This acquisition significantly strengthens Middleby's position in the bakery category and provides for increased growth opportunities in the retail market," Bassoul said. "Additionally, the acquired business is well-positioned to benefit from the continuing trend of on-premise baking in the commercial food service industry. We anticipate that the combination will provide for new growth opportunities for the Sveba Dahlen Group by leveraging Middleby's existing customer relationships and international sales network. We also are excited about opportunities to accelerate new product development through sharing of technologies and innovations with our existing businesses."