Middleby sells 51% of Residential Kitchen to 26North at $885M valuation; gets ~$540M cash

MIDDLEBY Corp

Middleby sells 51% stake in Residential Kitchen to affiliates of 26North; enterprise value $885M.
Upfront cash proceeds ~$540M plus $135M seller note; Middleby retains 49% non-controlling interest.
Residential Kitchen brands: Viking, AGA Rangemaster, La Cornue, Kamado Joe, Marvel, Novy, U-Line.
Transaction transforms Middleby into pure-play commercial foodservice leader alongside planned Food Processing spin-off.
Expected close Q1 2026, subject to HSR clearance and customary closing conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MIDDLEBY Corp entered into Purchase Agreement with Rise Buyer LP, an affiliate of 26North Partners LP valued at $885 million (effective 2025-12-04).

Action: entry
Agreement: asset purchase
Counterparty: Rise Buyer LP, an affiliate of 26North Partners LP
Value: $885 million
Effective: 2025-12-04

Exact text from the filing

On December 4, 2025, The Middleby Corporation (the “Company”), Mosaic Merger Sub. Inc., a wholly owned subsidiary of the Company (“MMS”), Middleby Worldwide Inc., a wholly owned subsidiary of the Company (“MWW”), Middleby Outdoor IP Holdings, Inc., a wholly owned subsidiary of the Company (“MOIP” and, collectively with MMS and MWW, “Sellers”), RKG Group Partners LP (the “Partnership”), Rise Buyer LP, an affiliate of 26North Partners LP (“Buyer”), and Rise Merger Sub, LLC, a wholly owned subsidiary of Buyer (“Buyer Merger Sub”), entered into a partnership interest purchase agreement (the “Purchase Agreement”) pursuant to which the Company will sell a 51% stake in its Residential Kitchen business (the “Business”) to Buyer, in a transaction (the “Transaction”) valuing the Business at $885 million.

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623 material agreements filed in the last 30 days. Browse all material agreements →

MIDDLEBY Corp filing history →

Source: SEC EDGAR

accession 0001193125-25-307524

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