Middleby acquires Follett
Follett manufactures ice machines, ice and water dispensing equipment, ice storage and transport products and medical-grade refrigeration products for the foodservice and healthcare industries.
The Middleby Corp., Elgin, Ill., acquired Follett Corp., a manufacturer of ice machines, ice and water dispensing equipment, ice storage and transport products and medical-grade refrigeration products for the foodservice and healthcare industries. Follett, which is headquartered in Easton, Pa., has approximately $140 million in annual revenues.
“Follett is a highly respected, industry leading brand in foodservice and healthcare markets with a long-standing reputation for innovation. Follett offers unique product solutions to help customers improve safety, sanitation, labor productivity and water and electric usage,” says Selim Bassoul, chairman and CEO of Middleby. “Follett is a strategic fit with our growing beverage platform, complementing existing Middleby brands in a number of domestic and international market niches, and providing for opportunities to offer combined beverage and ice solutions. We are excited about Follett’s past record of growth and its strong position for future growth, which will be further enhanced within the broader Middleby group.”