The Middleby Corporation (MIDD) Analyst/Investor Day Transcript

Rebecca Ellin
SVP of Investor Strategy & Corporate Development

Hi, everybody. Good morning. I’m Rebecca Ellin, SVP of Investor and corporate development. Welcome to the Middleby and Madera Investor Day. The agenda for this morning, Tim FitzGerald, the CEO of Middleby, is going to start us off with an overview and discuss the company and industry growth drivers. We also have the entire senior leadership team here that will go through a deep dive of the initiatives that’s going to drive Middleby over the next few years. The story that we are here to learn about today is about two industrial technology leaders that are at fundamentally distinct stages of their growth journey, which is what makes this a different kind of spend.

At its core, these are two businesses that have a lot in common. They both have an extraordinary heritage, are mission-critical to their customers and have a superior financial profile. After the JV of the residential business was complete earlier this year and the spin-off of the food processing business is complete in early July, we are now at the last step of Middleby’s transformation into a