Middleby acquires Belgian appliance brand Novy

ELGIN - Middleby Corp. said Monday it has acquired Novy, a maker of residential ventilation hoods and cooktops based in Belgium, with sales of approximately $90 million in U.S. dollars annually.

Terms of the transaction were not disclosed.

"Novy is recognized for its market leading innovations and product designs, complementing our expanding portfolio of premium residential brands," said Tim FitzGerald, Middleby CEO. "The business is well-positioned in the built-in cooking segment of the residential market, a category that is growing globally."

The introduction of the Novy brand and products into the U.S. and U.K. markets, where Middleby Residential is well-established, will further accelerate the company's sales, he said.

The addition of Novy expands the Middleby Residential division offerings in the built-in appliance segment, while broadening its international presence in the premium residential kitchen equipment market, Middleby said.

Middleby is a global manufacturer in the food service equipment industry. The company develops, manufactures, markets and services a broad line of equipment used in the commercial food service, food processing and residential kitchen equipment industries.