Middleby to use revolver borrowings for purchase of AGA Rangemaster

By Wendy Van Sickle

Columbus, Ohio July 15 – Middleby Corp. will use borrowings under its $1 billion revolving credit facility to fund the purchase of AGA Rangemaster Group plc, according to an 8-K filed with the Securities and Exchange Commission.

The total purchase price is about $200 million.

AGA has current annual revenues of roughly $400 million.

The transaction is expected to close in the third quarter

Middleby makes equipment used for commercial food cooking, preparation and processing and is based in Elgin, Ill. Based in Warwickshire, England, AGA manufactures and distributes kitchen appliances.

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