Middleby is Evaluating Separating its Residential Group from the Company

Middleby has three business units, Commercial, Food Processing and Residential. The Residential business unit includes their grill brands, like Kamado Joe, Masterbuilt, and Char-Griller. Their core business unit is Commercial though with 63% of total company revenue.

With Middleby’s earnings lagging, and a new activist investor involved in the business, they’re evaluating options to deliver more value to shareholders. It was announced today that the strategy work to identify if they’re better off separating their Food Processing and Residential business units from the company is in its advanced stages.