New Viking Range owner says company on ‘fast track’
by Associated Press
Published: January 4,2013
Tags: acquisition, appliance, buy, kitchen appliance, manufacture, manufacturer, manufacturing, market, merger, plant, purchase, sale, sell
GREENWOOD — The new owner of Viking Range says it is on a fast track to increase the company’s market share and profit margins.
The Greenwood Commonwealth reports the plans were outlined this week by Selim A. Bassoul, Middleby Corp.’s chairman and CEOl.
Middleby paid $380 million for Greenwood-based Viking Range.
Fred Carl Jr., Viking’s founder, will stay on as president and chief executive officer.
>> REILY: Viking sale leaves Greenwood hanging …
Bassoul says the acquisition is his company’s first significant foray into the residential cooking equipment market. Most of the Elgin, Ill.-based company’s emphasis to date has been on producing equipment for the commercial foodservice and food-processing industries.
Bassoul says Middleby had eyed Viking several years ago but the timing wasn’t right.
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