US-based The Middleby Corporation, through its Indian subsidiary Middleby Commercial Food Innovations Pvt Ltd, has acquired the commercial refrigeration and foodservice products business of Celfrost Innovations Pvt Ltd (Celfrost) for an undisclosed amount, the company said in a release.
“With the acquisition of Celfrost, Middleby will strengthen its presence in the fast growing market of India and expand our commercial foodservice product offerings in India to include complementary cold side products alongside our cooking and warming brands,” said Selim A. Bassoul, chairman and CEO of The Middleby Corporation.
“Celfrost has an extensive marketing and service network in India, including 15 brand centers that we will strategically leverage to support Middleby’s entire portfolio of brands in the market,” Bassoul added.
Incorporated in 2004, Celfrost is a commercial refrigeration and food-service products manufacturing company which has an annual sales of approximately $20 million (Rs 120 crore). It supplies equipment to many of the fast growing restaurant chain and hotel groups.
The firm’s clientele portfolio includes McDonald’s, Haldirams, Subway, Pizza Corner, Pizza Hut, Amul, Vadilal and Reliancefresh among others.
The Middleby Corporation is a global player in the food service equipment industry. The company develops, manufactures, markets and services a broad line of equipment used in the commercial, industrial processing and residential markets.