Middleby to Sell 51% Stake in Residential Kitchen Business to 26North in Transaction Valuing the Business at $885 Million

Core Viewpoint - The Middleby Corporation has entered into a definitive agreement to sell a 51% stake in its Residential Kitchen business to affiliates of 26North Partners LP, valuing the business at $885 million [1] Group 1 - Following the transaction, Middleby will retain a 49% non-controlling interest in a new standalone joint venture that will hold the Residential Kitchen business [1] - The transaction will provide Middleby with upfront cash [1]