Novy becomes part of the Global Middleby Group
Novy, the Belgian market leader in the production of cooker hoods and hobs, has developed over the years into a highly respected brand thanks to industry-leading innovation, superior product quality and dedicated personal service. This West Flemish gem has also grown considerably in recent years and was honoured this year with the Henri Vandevelde Company Award for its special attention to design & innovation over the years.
In order for Novy to be well-positioned for continued growth and delivering innovation to best serve our customers now and going forward, the shareholders (Sofindev, BNP Paribas, Korys, Lannoy family) searched for a solid investment partner who also shared our goals and best complemented our brand, culture and future vision. After a thorough consultation period Novy can announce that it will be part of The Middleby Corporation on 12 July 2021.
Middleby is a world leader in commercial and residential kitchen appliances and food processing solutions. Headquartered in Elgin, Illinois, U.S. outside of Chicago, the company has realized consistent grown both organically and through acquisitions. In 2020 Middleby global sales were more than $2.5 billion across their three business platforms. The company has a wide product range including many products for cooking and beverage service. Their premium residential appliances include the brands Aga, Rangemaster, La Cornue and Viking which manufacture gas cookers, ovens, grills, induction hobs, outdoor appliances, refrigeration units and beer taps.
“Novy is recognized for its market leading innovations and product designs, complementing our expanding portfolio of premium residential brands. The business is well-positioned in the built-in cooking segment of the residential market, a category which is growing globally,” said Tim FitzGerald, Middleby CEO. “We believe there are exciting opportunities to realize synergies with our existing residential brands.”
For Novy, this new partnership provides many opportunities in terms of product development and also access to a broader international sales network. Because of the decentralized manner in which Middleby operates its companies, our customers and other stakeholders should experience little to no change in daily interactions.