Middleby Is Spinning Off Its Food Processing Segment After a $540 Million Asset Sale. Can the Breakup Close Its Valuation Gap?

Middleby Is Spinning Off Its Food Processing Segment After a $540 Million Asset Sale. Can the Breakup Close Its Valuation Gap?

Key PointsMiddleby built both businesses through acquisitions, and the roll-up strategy is expected to continue.The commercial foodservice segment anchors the company with EBITDA margins of 27%. Back-of-the-envelope math suggests the company's pieces are worth more than the whole, but falling margins at the food processing segment complicate the picture.10 stocks we like better than Middleby › Will AI create the world's first trillionaire? Our t…