The Middleby Corporation (MIDD - Free Report) has acquired Marco Beverage Systems, a designer and manufacturer of innovative and energy-efficient beverage dispensing solutions. Located in Dublin, Ireland, Marco Beverage generates annual revenues of $30 million. Apart from Dublin, the company has a facility in Ningbo, China.
The acquisition complements Middleby’s existing beverage portfolio, expanding the company’s cold brew dispense, coffee brewers, and a variety of hot, cold and sparkling water dispenser offerings. The buyout also allows MIDD to leverage Macro Beverage’s touchless and in-counter dispense technology solutions, which are in demand due to its space-saving and handy features.
Middleby’s measures to expand market share, product portfolio and customer base by carrying out successive acquisitions are expected to foster growth. Last month it acquired Escher Mixers, a manufacturer of spiral and planetary mixers. The acquisition builds on Middleby’s existing bakery brands, offering full-line integrated solutions for lower operating costs and enhanced production efficiencies.
Also, in July, the company acquired Colussi Ermes, expanding its food processing solutions. The buyout of CP Packaging in the same month expanded its manufacturing operations in the Food Processing Equipment Group by boosting packaging equipment offerings. In July, MIDD also acquired Icetro, adding to its growing portfolio of beverage brands, expanding its Asian manufacturing capabilities and providing solutions to support customers in the expanding international markets.
Zacks Rank & Stocks to Consider
MIDD carries a Zacks Rank #4 (Sell) at present.
Some better-ranked companies from the Industrial Products sector are discussed below:
Applied Industrial Technologies, Inc. (AIT - Free Report) presently sports a Zacks Rank #1 (Strong Buy) and a trailing four-quarter earnings surprise of 24.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 4.6% for fiscal 2023 in the past 60 days. Shares of Applied Industrial have risen 37.5% in the past six months.
IDEX Corporation (IEX - Free Report) presently has a Zacks Rank #2 (Buy). IEX’s earnings surprise in the last four quarters was 5.7%, on average.
In the past 60 days, IDEX’s earnings estimates have increased 1.9% for 2022. The stock has rallied 28.9% in the past six months.
EnerSys (ENS - Free Report) delivered an average four-quarter earnings surprise of 2.1%. ENS presently carries a Zacks Rank of 2.
ENS’ earnings estimates have increased 0.6% for fiscal 2023 in the past 60 days. The stock has gained 21.8% in the past six months.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
The Middleby Corporation (MIDD - Free Report) has acquired Marco Beverage Systems, a designer and manufacturer of innovative and energy-efficient beverage dispensing solutions. Located in Dublin, Ireland, Marco Beverage generates annual revenues of $30 million. Apart from Dublin, the company has a facility in Ningbo, China.
The acquisition complements Middleby’s existing beverage portfolio, expanding the company’s cold brew dispense, coffee brewers, and a variety of hot, cold and sparkling water dispenser offerings. The buyout also allows MIDD to leverage Macro Beverage’s touchless and in-counter dispense technology solutions, which are in demand due to its space-saving and handy features.
Middleby’s measures to expand market share, product portfolio and customer base by carrying out successive acquisitions are expected to foster growth. Last month it acquired Escher Mixers, a manufacturer of spiral and planetary mixers. The acquisition builds on Middleby’s existing bakery brands, offering full-line integrated solutions for lower operating costs and enhanced production efficiencies.
Also, in July, the company acquired Colussi Ermes, expanding its food processing solutions. The buyout of CP Packaging in the same month expanded its manufacturing operations in the Food Processing Equipment Group by boosting packaging equipment offerings. In July, MIDD also acquired Icetro, adding to its growing portfolio of beverage brands, expanding its Asian manufacturing capabilities and providing solutions to support customers in the expanding international markets.
Zacks Rank & Stocks to Consider
MIDD carries a Zacks Rank #4 (Sell) at present.
Some better-ranked companies from the Industrial Products sector are discussed below:
Applied Industrial Technologies, Inc. (AIT - Free Report) presently sports a Zacks Rank #1 (Strong Buy) and a trailing four-quarter earnings surprise of 24.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 4.6% for fiscal 2023 in the past 60 days. Shares of Applied Industrial have risen 37.5% in the past six months.
IDEX Corporation (IEX - Free Report) presently has a Zacks Rank #2 (Buy). IEX’s earnings surprise in the last four quarters was 5.7%, on average.
In the past 60 days, IDEX’s earnings estimates have increased 1.9% for 2022. The stock has rallied 28.9% in the past six months.
EnerSys (ENS - Free Report) delivered an average four-quarter earnings surprise of 2.1%. ENS presently carries a Zacks Rank of 2.
ENS’ earnings estimates have increased 0.6% for fiscal 2023 in the past 60 days. The stock has gained 21.8% in the past six months.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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