The Middleby Corporation has moved to strengthen its offering in the induction cooking equipment space by acquiring one of the top manufacturers in China.
The US-based firm, which currently supplies induction under the CookTek brand, has agreed a deal that will see it purchase the assets of Induc Commercial Electronics Co. Ltd, better known by its trading name ‘Induc’.
Middleby sees the acquisition as an important step in the face of increasing demand for induction from restaurant customers.
Based in Qingdoa, Induc specialises in the assembly of induction cooking equipment for the commercial foodservice industry, making sales of approximately $10m (£6m) a year.
“We are excited to add Induc to our portfolio of innovative technologies,” stated Middleby CEO Selim Bassoul (main picture). “Induc is a leader in induction cooking equipment and a well-established brand in the Chinese market, with a growing presence in other Asian countries.”
Induc produces a broad line of innovative products marketed under the ‘ECO Kitchen’ brand, including steamers, wok ranges, tilting skillets, fryers and pasta cookers.
Bassoul added that the deal will give it extra capability to support chain customers looking to reap the benefits of using induction technology.
“Induction equipment continues to be increasing in demand as our restaurant customers recognise the benefits of energy efficiency, speed of cooking, safety, and precise temperature control,” he said. “This acquisition is highly synergistic with CookTek, our existing induction brand,and further strengthens the Middleby leadership position in induction cooking.”