Midera Food Processing secures $1B credit facility; Middleby receives $233M distribution ahead of spin-off

MIDDLEBY Corp

Midera entered $1.0B five-year credit agreement: $750M USD revolver and $250M multi-currency revolver with Bank of America as agent.
Middleby received $233M distribution from borrowings under new credit facilities and cash on hand.
Spin-off of Midera remains on track for July 6, 2026; SEC declared Form 10 effective on June 17.
Mark Salman named incoming CEO of Midera; Tim FitzGerald comments on balance sheet flexibility.

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