Viking owner buys Aga for £129million
Following speculation of Aga being sold to Viking-owner Middleby Corporation, the acquisition has been confirmed for £129.2million.
The sale includes all Aga Group kitchen appliance brands of Aga Rangemaster, Mercury, Falcon, Marvel, Stanley and La Cornue.
Based at Leamington Spa, Aga Group has more than 2,500 employees worldwide.
Chairman and chief executive office of The Middleby Corporation Selim Bassoul commented on the acquisition: “The addition of Aga’s world class brands, product range and manufacturing capability to our existing portfolio will further strengthen Middleby’s global reach and enhance our position as a leader in the premium segment for residential kitchen equipment.”
He continued: “We believe this transaction will provide meaningful synergies as we build upon the combined strength of both Middleby and Aga. We will leverage the existing sales, service and manufacturing capabilities of Aga with the Middleby market expertise, product innovation and well established global distribution network.”