Midera Food Processing, Inc.

Midera Food Processing Acquires Phoenix Innovations

Midera Food Processing acquired Phoenix Innovations, a Russellville, Arkansas-based designer and builder of poultry processing equipment running at roughly $25 million in annual revenue. This is Midera's first acquisition since becoming an independent public company via its spin-off from The Middleby Corporation, and it strengthens the company's total line solutions offering in poultry, one of its fastest-growing categories. CEO Mark Salman highlighted Phoenix's trusted industry relationships and a clear path to accelerate value creation by leveraging Midera's 30-plus brands and global service network, with a deep M&A pipeline suggesting further deals ahead.

•2d ago

Midera Food Processing Reports Second Quarter 2026 Results in First Report as an Independent Public Company

Midera Food Processing reported Q2 net sales of $245.4 million, up 13.2% year-over-year, with orders increasing 16% to reach a record backlog of $446 million. Adjusted EBITDA of $42.3 million exceeded the high end of guidance, though net earnings declined to $10.8 million due to separation costs and non-operating expenses following the spin-off from Middleby. The company raised its full-year 2026 guidance, projecting net sales growth of approximately 11% and standalone Adjusted EBITDA growth of 20%, while also authorizing a $50 million share repurchase program.

•2mo ago