As part of a long-term global expansion strategy, Belgian induction and extraction specialist Novy has joined the Middleby Corporation.
Middleby manufactures commercial and residential kitchen appliances, as well as food processing solutions, with brands that include Aga, Rangemaster, La Cornue and Viking.
Headquartered in Elgin, Illinois U.S.A, Middleby global sales were more than $2.5 billion across its three business platforms in 2020.
It follows a consultation period where Novy ‘s shareholders, Sofindev, BNP Paribas, Korys and the Lannoy family, who originally founded the business, have been seeking an investment partner.
Carlos Wanzeele, CEO, Novy said: “Over the years, Novy has evolved into a highly-respected brand thanks to industry-leading innovation, superior product quality and dedicated personal service.
“We have experienced greater demand as customers have chosen our brand, which has led to increased momentum. Our international presence has also grown significantly in recent years, including in the UK and Ireland.
“For Novy, this new partnership provides many opportunities in terms of product development and also access to a broader international sales network.
“Because of the decentralized way Middleby operates its companies, our customers and other stakeholders should experience little to no change in their daily interactions.
CEO of Middleby Tim FitzGerald added: “We look for well-known and highly-respected brands with industry-leading technology for Middleby.
“Novy is recognized for its market leading innovations and product designs, complementing our expanding portfolio of premium residential brands.
“The business is well-positioned in the built-in cooking segment of the residential market, a category which is growing globally and we believe there are exciting opportunities to realize synergies with our existing residential brands.”