“As an independent, publicly traded company, Midera enters the market in a strong financial position as we advance our growth strategy and invest in the technologies that will define the future of food production,” says Midera CEO Mark Salman. “We have built this platform through more than 30 acquisitions since 2005, developing disciplined capabilities in deal origination, integration and operational improvement. Our total line solutions allow us to do what no one else in the industry can: design, integrate, commission and support a complete production line across protein, bakery and snack categories. We look forward to being the partner global food manufacturers rely on as rising demand, labor scarcity, food safety requirements and sustainability imperatives drive the next wave of investment in food processing technology.”

Shares of Midera common stock began trading “regular way” on The Nasdaq Stock Market under the ticker symbol “MFP” on July 7.

“This separation represents the culmination of strategic portfolio work to unlock the full value potential for our shareholders,” says Middleby CEO Tim FitzGerald. “Middleby emerges as a pure-play commercial foodservice leader with a differentiated platform built on innovation, connected solutions and market-leading brands. Midera enters the market as an industry-leading food processing business with attractive secular tailwinds and a robust M&A pipeline. As focused, independent companies, each is positioned to execute with greater agility, invest behind their respective competitive advantages, and deliver significant long-term shareholder value.”