The Middleby Corporation in Illinois has acquired Dublin firm Marco Beverage Systems, which designs and makes beverage dispensers for hotels, restaurants, offices, homes and coffee shops.
Middleby said that Marco has annual turnover of c.€28m and that the deal was finalised in December 2022.
Manufacturing for more than 40 years, Marco also has a facility in Ningbo, China. Products include POUR’D cold coffee on tap, which received the Best New Product 2022 award from the Specialty Coffee Association.
Drewry Pearson, executive chairman at Marco, commented: “The acquisition of Marco by Middleby is an incredibly exciting start of the next chapter for Marco.
“Whilst our origins are proudly Irish, Marco has grown to become a globally recognised provider of beverage solutions. We see this step with Middleby as a unique opportunity to continue strengthening our brand and business globally.”
In Association with
Nasdaq-listed Middleby supplies equipment to the global foodservice, beverage and residential catering industry as well as food processing and bakery equipment. Middleby Corporation had turnover of €2.75bn in 2021.
“We are excited to bring our stylish, space, and labour-saving solutions to their beverage portfolio including the Marco POUR’D, an award-winning innovation in cold beverage dispense and the Marco FRIIA hot, cold and sparkling water system,” Pearson added.
Tim FitzGerald, Middleby CEO, commented: “This acquisition is highly complementary to our growing beverage portfolio, and the Marco product line further expands our offerings in coffee brewers, cold brew dispense, and a variety of hot, cold and sparkling water dispensers.
“Touchless and in-counter dispense technology is rapidly gaining popularity due to space and labour advantages, along with enhanced aesthetic features. Marco is well-positioned with solutions for these growing trends.”
Renatus, which monitors M&A transactions, said the vendors are Drewry Pearson, Sean Moran and Paul Stack. In the year to September 2021, Marco turnover of c.€21m which converted to EBITDA of c.€1.2m.
Paul Stack will remain in his role as managing director following the transaction.
Marco Beverage Systems was advised on the deal by IBI. Legal and tax counsel was provided by ByrneWallace.
