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Standex Signs Definitive Agreement to Sell Cooking Solutions Group to the Middleby Corporation

Standex Intl Corp (SXI)  More Company Research Source: Business Wire
Last standex intl corp earnings: 1/30 04:15 pm Check Earnings Report
US:NYSE Investor Relations: ir.standex.com
PDF SALEM, N.H.--(BUSINESS WIRE)-- Standex International Corporation (NYSE:SXI) today announced that it has signed a definitive agreement to sell its Cooking Solutions Group (CSG), which is part of Standex’s Food Service Equipment Group (FSEG) segment, to The Middleby Corporation, a diversified food service equipment company. Upon the closing, Middleby will pay Standex a cash purchase price of $105 million, subject to post-closing adjustments. The closing of the transaction is subject to customary conditions, including regulatory approvals. CSG includes the APW Wyott®, Bakers Pride®, Tri-Star, BKI®, Barbecue King and Ultrafryer® brands, and serves directly and via dealers and distributors the food service, convenience store, and supermarket end markets. In fiscal year 2018, CSG net revenues were $97.9 million, which represents approximately 25% of FSEG segment net revenues, or approximately 10% of Stand [Read more]

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