Middleby uses borrowings under revolver to fund Viking Range purchase

By Tali David

Minneapolis, Jan. 2 - Middleby Corp. used borrowings under its $1 billion revolving credit facility to fund the purchase of Viking Range Corp., according to an 8-K filed with the Securities and Exchange Commission.

The total purchase price was $380 million.

Viking Range has current net assets of about $50 million and current annual revenues of roughly $200 million.

Following the transaction, the company has total borrowings of about $660 million.

Middleby makes equipment used for commercial food cooking, preparation and processing and is based in Elgin, Ill.

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