Middleby in talks to buy AGA Rangemaster

17 Jun, 15

Owner of Viking Range Corporation in discussions to acquire Aga Rangemaster

The Middleby Corporation board of directors has confirmed it is in talks to acquire AGA Rangemaster, making a possible cash offer.

Foodservice equipment supplier, the Middleby Corporation owns brands including Lincat, U-Line and the Viking Range Corporation, which it bought in 2013 for $380million.

It has a Wigan-based subsidiary, Middleby UK, where it is set to open a 10,000sqft showroom dedicated to the Viking brand.

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According to Reuters, Middleby is required to make a firm intention of an offer for AGA Rangemaster by no later than July 15, 2015, at 5pm.

However a statement released by the American company read: “These discussions are at a very early stage and there can be no certainty that any formal offer will be made, or as to the terms of any offers. A further announcement will be made when appropriate.”

The Middleby Corporation was named a Fastest Growing Company by Fortune Magazine in 2014.

Following the announcement, shares in Aga Rangemaster jumped from 104.25 pence at close of play on June 16 to 134.25 at the time of writing on June 17, 2015.