Middleby Plans Spin-Off of Food Processing Unit by Early 2026

Middleby Corporation has announced plans to spin off its food processing business into a standalone public company, a decision stemming from a strategic review of its operations. This separation will create two independent entities: Middleby RemainCo and Middleby Food Processing, expected to be finalized by early 2026 through a tax-free spin-off. The move comes amid pressure from activist investor Ed Garden, who has been appointed as an independent director on the board. Middleby reported a fourth-quarter net income increase, with sales reaching $1.01 billion, surpassing analyst expectations. The company aims to enhance operational efficiency and capitalize on anticipated demand recovery in the kitchen equipment sector. The spin-off and the addition of Garden are seen as part of broader efforts to improve shareholder value.