RTTNews | Dec 28, 2021 03:29AM EST

03:28 Tuesday, December 28, 2021 (RTTNews.com) - The Middleby Corporation (MIDD), a commercial, residential cooking, and industrial process equipment company, said it has acquired Masterbuilt Holdings, LLC and its residential outdoor brands Kamado Joe and Masterbuilt, for $385 million.

Separately, the American firm also acquired Char-Griller, an Atlanta-based residential outdoor charcoal and gas cooking products maker. Char-Griller reported revenues of approximately $150 million in 2021.

Tim FitzGerald, Middleby CEO, commented: "Char-Griller further adds to our product offerings for the outdoor market and the growing number of backyard cooking enthusiasts. With complementary customers and channels of distribution, Char-Griller provides Middleby Residential with added growth opportunities. There are meaningful synergies to leverage supply chain, manufacturing, product development and distribution capabilities."

"The addition of Kamado Joe, Masterbuilt and Char-Griller outdoor cooking brands expand the revenues of our Middleby Residential platform to more than $1 billion," he added.

Read the original article on RTTNews ( https://www.rttnews.com/3251664/middleby-completes-acquisition-of-masterbuilt-s-kamado-joe-masterbuilt-brands-buys-char-griller.aspx)

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