Midera Food Processing completes spin-off from The Middleby Corp.
Midera’s technological capabilities underpin production of protein, bakery and snack.
Midera Food Processing, a global pure-play food processing technology platform, announces that its spin-off from The Middleby Corp. is complete, and it has begun trading as an independent company under the ticker symbol “MFP.”
Midera has a portfolio of more than 30 brands and a global equipment and systems installed base of more than 100,000 units. Midera’s technological capabilities underpin the production of protein, bakery and snack.
"As an independent, publicly traded company, Midera enters the market in a strong financial position as we advance our growth strategy and invest in the technologies that will define the future of food production," said Mark Salman, chief executive officer of Midera. "We have built this platform through more than 30 acquisitions since 2005, developing disciplined capabilities in deal origination, integration and operational improvement.
"Our total line solutions allow us to do what no one else in the industry can: design, integrate, commission, and support a complete production line across protein, bakery, and snack categories. We look forward to being the partner global food manufacturers rely on as rising demand, labor scarcity, food safety requirements, and sustainability imperatives drive the next wave of investment in food processing technology."
Midera begins its journey as an independent public company with a leadership team that brings decades of collective experience in food processing, industrial technology and global operations. In addition to Salman, the executive team consists of Amy Campbell, chief financial officer; Mark Bowie, chief operating officer; and Matthew Fuchsen, chief strategy officer. The company’s leadership team has strong customer relationships across the protein, bakery and snack processing markets.
The management team is supported by a Board of Directors chaired by Robert Nerbonne, a former director of Middleby and veteran chief executive in the commercial foodservice equipment industry. It also includes Salman; Carlos Fernandez Villena, former senior executive of JBT Corp. (now JBT Marel) and current chairman of OptiCept Technologies AB; Timothy FitzGerald, chief executive officer of Middleby; James Glerum Jr., former vice chairman, Investment Banking at Citigroup and current director of Amcor plc and Tennant Co.; Brian Jacoby, founding partner and head of Research at Garden Investments and former partner at Trian Fund Management; Cathy McCarthy, president and CEO of Cross Tack Consulting and a former director of Middleby; and Janet Zelenka, former chief financial officer and chief information officer of Stericycle and current director of FTI Consulting, IDEAL Industries and US Venture. Together, the board brings extensive public company governance, financial and industry expertise to guide Midera.
Source: Midera Food Processing
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