The Middleby acquisition history

Viking Range is a leading manufacturer of premium residential cooking ranges, ovens and kitchen appliances, headquartered in Greenwood, Mississippi with approximately $200 million in annual revenues. The deal established Middleby's Residential Kitchen platform.

This acquisition strategically positions Middleby as a leading manufacturer in the sector with a top brand. The acquisition of Viking allows us to integrate our own patented technologies that will have a huge appeal to consumers for their residential kitchens.Selim A. Bassoul — Chairman and CEO, The Middleby Corporation

Middleby agreed to acquire Welbilt, Inc. (NYSE: WBT) in an all-stock merger to create a premier commercial foodservice platform with roughly $3.7 billion combined 2020 sales. Following a competing proposal, Middleby let its match period expire and the merger agreement was terminated on July 14, 2021 (Welbilt was subsequently acquired by Ali Group). All-stock; ~$100 million anticipated annual cost synergies.

This transaction will bring together two complementary businesses, accelerate the Middleby growth strategy into key markets globally and increase core capabilities in highly attractive segments.The Middleby Corporation — April 20, 2021 acquisition press release (Exhibit 99.1)

Taylor is a world leader in beverage solutions, soft serve and ice cream dispensing equipment, frozen drink machines and automated double-sided grills, located in Rockton, Illinois. Middleby acquired it from UTC Climate, Controls & Security, a unit of United Technologies. It is Middleby's largest completed acquisition. approximately $1.0 billion.

Masterbuilt Holdings and its residential outdoor brands Kamado Joe and Masterbuilt are a leader in outdoor residential cooking, located in the Atlanta, Georgia area. The purchase price included $403.6 million in cash and Middleby common stock. approximately $400.7 million.

Novy is a leading manufacturer of premium residential ventilation hoods and cooktops, located in Belgium. approximately $250.9 million.

Follett is a leading 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, headquartered in Easton, Pennsylvania with approximately $140 million in annual revenues. approximately $207.7 million.

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.Selim A. Bassoul — Chairman and CEO, The Middleby Corporation

AGA Rangemaster is a leading manufacturer of residential kitchen equipment including cookers, ranges, ovens and refrigeration, based in the United Kingdom, home of heritage brands such as AGA and Rangemaster. approximately $184.7 million.

U-Line is a leading manufacturer of premium residential built-in modular ice making, refrigeration and wine preservation products for the residential industry. approximately $142.0 million.

Middleby acquired Cooking Solutions Group, Inc. from Standex International Corporation, consisting of the brands APW Wyott, Bakers Pride, BKI and Ultrafryer, serving the commercial foodservice industry. approximately $106.1 million.

Globe is a leading brand in slicers and mixers for the commercial foodservice industry, located in Dayton, Ohio.

Lynx is a leading manufacturer of premium residential outdoor cooking equipment, located in Downey, California.

Lincat is a leading manufacturer of ranges, ovens and counterline equipment for the commercial foodservice industry, based in the United Kingdom.

Sveba Dahlen is a developer and manufacturer of ovens and baking equipment for the commercial foodservice and industrial baking industries, headquartered in Fristad, Sweden.

Wunder-Bar (Automatic Bar Controls) is a leading manufacturer of beverage dispensing systems for the commercial foodservice industry.

Firex is a leading manufacturer of steam cooking equipment for the commercial foodservice industry, located in Sedico, Italy. approximately $53.7 million.

Crown is a leading designer and manufacturer of steam cooking equipment for the commercial foodservice industry, located in Toronto, Canada. approximately $42.0 million.

QualServ is a global commercial kitchen design, manufacturing, engineering, project management and equipment solutions provider, located in Fort Smith, Arkansas.

Josper is a leading manufacturer of charcoal grill and oven cooking equipment for commercial foodservice and residential applications, located in Pineda de Mar, Spain. approximately $39.3 million.

Scanico is a leading manufacturer of industrial cooling and freezing equipment for the food processing industry, located in Aalborg, Denmark.

CVP Systems is a leading manufacturer of high-speed packaging systems for the meat processing industry, located in Downers Grove, Illinois. Consideration included $17.5 million in cash and Middleby common stock. approximately $29.8 million.

Armor Inox is a manufacturer of thermal processing systems for the food processing industry, based in France with UK operations.

Stewart Systems is a manufacturer of automated proofing and oven baking systems for the food processing industry.

Goldstein Eswood comprises J. Goldstein & Co. Pty. Ltd. and Eswood Australia Pty. Ltd., commercial foodservice equipment manufacturers based in Australia.

Alkar manufactures batch and conveyor ovens and related packaging equipment for the food processing industry under the Alkar and RapidPak brands, with approximately $60 million in annual sales.

The purchase of Alkar allows Middleby to add to its portfolio of leading brands in cooking. Alkar is recognized as the leader in the industry due to the high quality of its product and its strong relationship with its customers.Selim A. Bassoul — Chairman and CEO, The Middleby Corporation

Hinds-Bock is a leading manufacturer of solutions for filling and depositing bakery and food products, located in Bothell, Washington.

Nieco is a leading manufacturer of automated broilers for the commercial foodservice industry.

CookTek is a leader in the manufacture of induction cooking and warming systems for the commercial foodservice industry, with approximately $10 million in annual sales. Financed under Middleby's senior revolving credit facility, with an additional earnout.