Middleby Corporation

They were one of our first big sponsors.

And first off, seeing that they sold to Middleby in the first place was a weird thing to have to be around for.

And then to see that Middleby is just going to let it go under and they're not going to be...

That's the last I read about it, at least.

That's wild to me.

Moving on, Vicente Torns, AAA Architectural Hardware, Louis Fusco Landscape Architects, and the PIC Group.

Moving on, the Cinder Ransomware Gang hit the Alera Group, Buckle, just Buckle, Camden Property Trust, Henley Industries, Hilmar Cheese, Middleby, and Sunshine Mills.

The Seven Deadly Sins ransomware gang hit Canva.

Now, they are claiming Salesforce-related things like contacts, licensing, and other documents.

So 26 North is a private equity firm and they purchased the controlling stake of them way back beginning of the year, end of last year.

I can't remember, but they own 51% of this now and 49% still under Middleby.

But 26 North is the private equity firm now.

So they've reshuffled the deck completely over there.

Yeah.

You know, and look, We talked about the private equity and all that kind of stuff.

To be fair, this probably even happened under the old ownership, right? So under Middleby.

So, you know, I don't think we have to go after the private equity aspect of this whole thing.

So you've got marketing and sales support, you've got product innovation, and you've also got the opportunity to expand the relationship.

So, you know, with Taylor in particular, they're owned by a company called Middleby out of the US.

They have other product lines and other service lines that we may look to take on over time and, and do more service with that supplier.

Well, finally, Paul, for someone who has never invested in a company like yours before, what is the single most important thing you want them to understand about what Elevate is building?

A lot of times, it's, it's modular kiosks.

I know that I've been to the, uh, to innovation center, uh, for Middleby in Dallas, and they have a whole kitchen full of robotic equipment that does a number of functions within the restaurant.

That was maybe three years ago was the last time I was there.

So it's, it's interesting.

All right.

So the Middleby Corporation, this is a, just a press release.

The Middleby Corporation, okay, cool, haven't heard of it, uh, announced that it will discontinue its Middleby Brewing and Distilling Solutions Group.

Okay.

Cool, hadn't heard of it.

Um, those are really easy systems for me to learn.

Um, and the veil is looking into canning line options.

Wild Goose entered the conversation, and with this closure of, like, Middleby dis- dis- da-da, discontinuing this brewing group, including Wild Goose, it's like, well, if we're not gonna get replacement parts or customer service or whatever past a certain point, like, let...

Hi, it's Jack.

On today's show, we speak with Brittany Cerwin, CFO of Middleby Corporation.

Sometimes strategy gets clearer when a company decides what it no longer needs to be.

Middleby Corporation spent years building a portfolio across commercial food service, food processing, and residential kitchens.

Now, after two major transactions, the company's more tightly focused on its commercial business.

That changes more than the organizational chart.

It changes the investor story, the capital allocation conversation, and perhaps most importantly, where management puts its attention.

Brittany Cerwin has spent 15 years inside Middleby, so she has watched the portfolio expand, and now she's helped it narrow.