Midera Secures USD1 Billion Credit Facility Ahead of Middleby Spin-Off
Midera Food Processing has secured a $1 billion revolving credit facility as it prepares to separate from parent company Middleby Corporation next week. The five-year agreement, announced on June 29, includes a $750 million U.S. dollar revolving credit facility and a $250 million multi-currency revolving credit facility. Bank of America is serving as administrative agent alongside a syndicate of financial institutions and lenders.
The financing is intended to support Midera’s transition into an independent public company and provide funding for future growth initiatives, including acquisitions.
The spin-off remains scheduled for July 6, 2026, subject to customary closing conditions outlined in the Separation and Distribution Agreement filed with the U.S. Securities and Exchange Commission. Midera’s Form 10 registration statement was declared effective by the SEC on June 17, 2026.
Mark Salman, incoming Chief Executive Officer of Midera, declared: “The new Credit Agreement gives us ample capacity to execute on our acquisition-driven growth strategy as we transition to a stand-alone public company. […] With our diversified portfolio of leading brands, strong global customer relationships, and comprehensive total line solutions, we’re positioned to be the acquiror of choice in a fragmented market while continuing to invest in innovation and operational excellence.”
The Chief Executive Officer of Middleby, Tim FitzGerald, added: “Midera is well positioned to accelerate growth as an independent company and this Credit Agreement provides the balance sheet flexibility to execute their strategy. The size and terms of the credit facility are reflective of Midera’s compelling financial profile and we remain confident in Midera’s outlook as it enters its next chapter of growth as an independent company.”
The Middleby Corporation is a global player in the foodservice industry that develops and manufactures a broad line of solutions used in commercial foodservice and food processing. Midera Food Processing provides food processing equipment and automation solutions for industrial protein, bakery and snack producers, delivering total line solutions from preparation and thermal processing through packaging.
