Middleby(US:MIDD) Yahoo Finance·2026-01-26 16:15Company Overview - The Middleby Corporation is transforming from an innovative manufacturer of advanced kitchen technology for the global foodservice industry into a specialized, pure-play leader in commercial foodservice equipment [5] - The company has approximately 120 brands in its portfolio and develops a broad range of solutions for commercial foodservice, food processing, and residential kitchens [3][5] - Middleby powers many leading restaurant brands, including YUM! Brands, Dunkin', Burger King, Domino's, and Five Guys [5] Recent Developments - In 2025, Middleby announced plans to spin off its Food Processing segment into a standalone business [5] - The company sold a majority stake in its Residential Kitchen segment to 26North, forming a joint venture to continue producing brands like Viking and AGA Rangemaster [5] - These strategic moves are aimed at accelerating growth by focusing on automation, labor savings, reducing food costs, and driving kitchen efficiency while expanding into new markets such as ice and beverage [5] Leadership - Timothy FitzGerald has been the CEO of Middleby since 2019 and has been with the company for nearly 25 years, previously serving as Vice President and Chief Financial Officer [2][3] - He has been heavily involved in company-wide strategic decisions and initiatives, leading acquisition and business development activities [3] - FitzGerald was responsible for the strategic formation of the Middleby residential distribution platform, supporting sales for all residential brands [4]