<SEC-DOCUMENT>0001157523-18-001049.txt : 20180509
<SEC-HEADER>0001157523-18-001049.hdr.sgml : 20180509
<ACCEPTANCE-DATETIME>20180509070150
ACCESSION NUMBER:		0001157523-18-001049
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180509
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180509
DATE AS OF CHANGE:		20180509

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MIDDLEBY CORP
		CENTRAL INDEX KEY:			0000769520
		STANDARD INDUSTRIAL CLASSIFICATION:	REFRIGERATION & SERVICE INDUSTRY MACHINERY [3580]
		IRS NUMBER:				363352497
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09973
		FILM NUMBER:		18816630

	BUSINESS ADDRESS:	
		STREET 1:		1400 TOASTMASTER DRIVE
		CITY:			ELGIN
		STATE:			IL
		ZIP:			60120
		BUSINESS PHONE:		8477413300

	MAIL ADDRESS:	
		STREET 1:		1400 TOASTMASTER DRIVE
		CITY:			ELGIN
		STATE:			IL
		ZIP:			60120
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51803452.htm
<DESCRIPTION>THE MIDDLEBY CORPORATION 8-K
<TEXT>
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      <font style="font-size: 12pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 12pt"></font><font style="font-size: 12pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt; font-family: Times New Roman">Washington,
      D.C. 20549</font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>
      Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported): May 9, 2018</font><br><br><font style="font-size: 18pt"><b>THE
      MIDDLEBY CORPORATION</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      Name of Registrant as Specified in its Charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt; margin-left:auto;margin-right:auto">
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="white-space: nowrap; width: 34%; padding-right: 0.0px; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-9973</b>
          </p>
        </td>
        <td style="white-space: nowrap; width: 33%; padding-right: 0.0px; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>36-3352497</b>
          </p>
        </td>
      </tr>
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        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or Other Jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of Incorporation)
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        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 67%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1400 Toastmaster Drive, Elgin, Illinois</b>
          </p>
        </td>
        <td style="white-space: nowrap; width: 33%; padding-right: 0.0px; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>60120</b>
          </p>
        </td>
      </tr>
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        <td style="width: 67%; text-align: center; padding-left: 0.0px" valign="bottom">
          <font style="font-size: 10pt; font-family: Times New Roman">(Address
          of Principal Executive Offices)</font>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <font style="font-size: 10pt; font-family: Times New Roman">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <b>(847) 741-3300</b><br>(<font style="font-size: 10pt; font-family: Times New Roman">Registrant&#8217;s
      telephone number, including area code)</font><br><br><b>N/A</b><br>(<font style="font-size: 10pt; font-family: Times New Roman">Former
      Name or Former Address, if Changed Since Last Report)</font><br>
    </p>
    <p style="text-align: left">
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br><br>Indicate by check mark whether the
      registrant is an emerging growth company as defined in Rule 405 of the
      Securities Act of 1933&#160;(&#167;230.405 of this chapter) or Rule 12b-2 of the
      Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).<br><br>Emerging
      growth company <font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font><br><br>If
      an emerging growth company, indicate by check mark if the registrant has
      elected not to use the extended transition period for complying with any
      new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. <font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
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        <div style="text-align: left">

        </div>
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        <div style="text-align: center">

        </div>
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          <hr style="color: black; height: 1.5pt">

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        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 10%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Item 2.02</b>
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Results of Operations and Financial Condition.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      On May 9, 2018, The Middleby Corporation (the &#8220;Company&#8221;) issued a press
      release announcing its financial results for the first quarter ended
      March 31, 2018. A copy of that press release is furnished as Exhibit
      99.1 and incorporated herein by reference. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      The information furnished pursuant to Item 2.02 of this Current Report
      on Form 8-K (including the exhibit hereto) shall not be considered
      &quot;filed&quot; under the Securities Exchange Act of 1934, as amended, nor shall
      it be incorporated by reference into future filings by the Company under
      the Securities Act of 1933, as amended, or under the Securities Exchange
      Act of 1934, as amended, unless the Company expressly sets forth in such
      future filing that such information is to be considered &quot;filed&quot; or
      incorporated by reference therein.
    </p>
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          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Item 9.01.</b>
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
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        <td style="width: 10%">

        </td>
        <td style="width: 2%">

        </td>
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          &#160;
        </td>
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        <td style="width: 10%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>(c) &#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</b>
          </p>
        </td>
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        <td style="width: 10%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
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          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Exhibit No.</b>
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 88%; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            <b>Description</b>
          </p>
        </td>
      </tr>
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        <td style="width: 10%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
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        <td style="width: 10%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            Exhibit 99.1
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            The Middleby Corporation press release dated May 9, 2018.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">

    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">SIGNATURES</font>
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, as amended, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font><br><br><br>
    </p>
    <div style="text-align:center">
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="3" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            THE MIDDLEBY CORPORATION
          </p>
        </td>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="3" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
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        <td style="padding-bottom: 2.0px; width: 5%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 45%; text-align: left; padding-left: 0.0px" valign="top">
          May 9, 2018
        </td>
        <td style="width: 6%">
          &#160;
        </td>
        <td style="padding-bottom: 2.0px; width: 4%; text-align: left; padding-left: 0.0px" valign="top">
          By:
        </td>
        <td style="width: 40%; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Timothy J. FitzGerald
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 40%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Timothy J. FitzGerald
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 40%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Vice President,
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 40%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Financial Officer and
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 40%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Accounting Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u><b>Exhibit Index</b></u>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 10%; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit No.</b>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 2%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td style="width: 88%; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px" valign="top">
          <b>Description</b>
        </td>
      </tr>
      <tr>
        <td style="width: 10%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 10%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51803452ex99_1.htm">Exhibit 99.1</a>
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51803452ex99_1.htm">The Middleby Corporation press
            release dated May 9, 2018.</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify">

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51803452ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>The
      Middleby Corporation Reports First Quarter Results</b></font>
    </p>
    <p>
      ELGIN, Ill.--(BUSINESS WIRE)--May 9, 2018--The Middleby Corporation
      (NASDAQ: MIDD), a leading worldwide manufacturer of equipment for the
      commercial foodservice, food processing, and residential kitchen
      industries, today reported net sales and earnings for the first quarter
      ended March&#160;31, 2018. Net earnings for the first quarter were
      $65,420,000 or $1.18 diluted earnings per share on net sales of
      $584,800,000 as compared to the prior year first quarter net earnings of
      $70,702,000 or $1.24 diluted earnings per share on net sales of
      $530,297,000.
    </p>
    <p>
      <u><b>2018 First Quarter Financial Highlights</b></u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Net sales increased 10.3% in the first quarter over the comparative
        prior year period. Sales related to recent acquisitions added $63.9
        million or 12.0%, in the first quarter. The impact of foreign exchange
        rates on foreign sales translated into U.S. Dollars increased net
        sales by approximately 2.8% during the first quarter. The adoption of
        ASC 606 increased net sales by approximately 2.7% during the first
        quarter. Excluding the impact of acquisitions, foreign exchange and
        the adoption of ASC 606, sales decreased 7.2% during the first quarter.
      </li>
      <li style="margin-bottom: 10.0px">
        Net sales at the company&#8217;s Commercial Foodservice Equipment Group
        increased $47.7 million, or 15.3%, to $359.9 million in the first
        quarter as compared to $312.2 million in the prior year first quarter.
        During fiscal 2017, the company completed the acquisitions of Sveba
        Dahlen, QualServ, L2F and Globe. Excluding the impact of these
        acquisitions, sales increased 0.5% in the first quarter, or decreased
        1.4% excluding the benefit of foreign exchange.
      </li>
      <li style="margin-bottom: 10.0px">
        Net sales at the company&#8217;s Residential Kitchen Equipment Group
        decreased $4.5 million, or 3.2%, to $136.3 million in the first
        quarter as compared to $140.8 million in the prior year first quarter.
        Excluding the impact of foreign exchange, sales decreased 8.4% during
        the first quarter. Sales at Viking increased by approximately 5%
        during the quarter. This increase was more than offset by the
        temporary impact of consolidating our premium brands through company
        owned distribution and canceling certain third party distributors, in
        addition to lower sales at AGA.
      </li>
      <li style="margin-bottom: 10.0px">
        Net sales at the company&#8217;s Food Processing Equipment Group increased
        $11.3 million, or 14.6%, to $88.6 million in the first quarter as
        compared to $77.3 million in the prior year first quarter. During
        fiscal 2017, the company completed the acquisitions of Burford, CVP
        Systems, and Scanico. During fiscal year 2018, the company completed
        the acquisition of Hinds-Bock. Excluding the impact of these
        acquisitions, sales decreased 8.5% in the first quarter. Excluding the
        impact of acquisitions, foreign exchange and the adoption of ASC 606,
        net sales decreased 28.7%
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit in the first quarter increased to $211.6 million from
        $209.5 million reflecting the impact of increased sales from
        acquisitions. The gross margin rate decreased from 39.5% to 36.2%. The
        decrease in the gross margin rate for the quarter reflects lower
        margins at recent acquisitions. Additionally, the gross margin rate
        was impacted by lower volumes and unfavorable mix at the Food
        Processing Equipment Group.
      </li>
      <li style="margin-bottom: 10.0px">
        Operating income amounted to $87.0 million in the first quarter as
        compared to $92.7 million in the prior year quarter.
      </li>
      <li style="margin-bottom: 10.0px">
        Operating income included $19.8 million of non-cash expenses during
        the first quarter, including $8.2 million of depreciation expense,
        $11.5 million of intangible amortization and $0.1 million of share
        based compensation.
      </li>
      <li style="margin-bottom: 10.0px">
        The provision for income taxes in the first quarter amounted to $21.3
        million at a 24.5% effective rate in comparison to $22.7 million at a
        24.3% effective rate in the prior year quarter. The tax rate in first
        quarter was favorably impacted by the reduction in the federal tax
        rate from 35% to 21% due to the enactment of the Tax Cuts and Job Act
        of 2017. The tax rate in the prior period was favorably impacted by a
        tax benefit from the adoption of ASU No. 2016-09, &quot;Compensation -
        Stock Compensation (Topic 718)&quot;, which resulted in the recognition of
        excess tax benefits from share-based payments to be recognized as an
        income tax benefit in the condensed consolidated statement of earnings.
      </li>
      <li style="margin-bottom: 10.0px">
        Net earnings per share amounted to $1.18 in the first quarter as
        compared to $1.24 in the prior year quarter. Net earnings in the
        current and prior year first quarter were reduced by restructuring
        expenses. The impact of these items reduced earnings per share by
        $0.02 in the 2017 and 2016 first quarter periods.
      </li>
      <li style="margin-bottom: 10.0px">
        Operating cash flows amounted to $44.7 million during the first
        quarter as compared to $46.9 million in the prior year quarter.
      </li>
      <li style="margin-bottom: 10.0px">
        Net debt, defined as debt less cash, at the end of 2018 fiscal first
        quarter amounted to $945.7 million as compared to $939.2 million at
        the end of fiscal 2017.
      </li>
    </ul>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Selim A. Bassoul, Chairman and Chief Executive Officer, commented, &#8220;At
      the Commercial Foodservice Equipment Group, sales were impacted by the
      strategic changes in our sales organization implemented in the second
      half of 2017 and completed in the first quarter of 2018. This effort has
      allowed us to align with the strongest sales representatives in the
      industry, which now carry our complete portfolio of leading brands and
      product innovations. Although this initiative has been disruptive in the
      short term, it has resulted in a stronger, more aligned selling
      organization and greatly simplified the sales process for our customers.
      We remain very excited about the pipeline of new innovative products
      introduced over the past several years. During the first quarter we have
      seen the adoption of several new products at both new and existing
      customers, and realized orders for several opportunities that will
      convert into sales in upcoming quarters. As a result, we anticipate
      improving sales trends as we progress throughout the year. We have
      continued to further develop our pipeline of product innovations with a
      heavy focus on automation and labor savings innovations. Through the
      2017 acquisition of L2F, a leader in robotics and automated solutions,
      we have added a unique capability and are developing integrated
      solutions to address labor, safety and efficiency issues at our
      restaurant customers.&#8221;
    </p>
    <p>
      Mr. Bassoul continued, &#8220;At our Residential Kitchen Equipment Group, we
      were very pleased to report 5% sales growth at the Viking brand in the
      first quarter. Incoming orders outpaced first quarter sales at a double
      digit growth rate and we anticipate consistent growth throughout the
      remainder of 2018. We believe the substantial investments made over the
      past several years in new products, quality, service and sales have
      repositioned Viking for long-term profitable growth. During the quarter
      we remained committed to heavily invest in new product displays at our
      dealer partners and are excited about the continued positive response in
      the marketplace. During the quarter, we also maintained our focus to
      execute on our long-term strategy of consolidating our premium brands
      including Marvel, Lynx, LaCornue and AGA through our company owned sales
      and distribution organization. Through this initiative we will be able
      to leverage our portfolio of premium residential brands and offer unique
      sales and service programs to our customers. This will also provide for
      greater profitability as we leverage investments made in our company
      owned distribution model. This strategic change adversely impacted sales
      and profitability during the quarter as our cancelled distributors
      destocked inventory. We anticipate the transitional impact of the
      distribution changes will be completed by end of the second quarter. The
      AGA businesses also adversely impacted sales due to sluggish market
      conditions in the UK and continual decline in revenues at non-core
      businesses as we restructure operations to focus on profit improvements
      at those entities.&#8221;
    </p>
    <p>
      &#8220;At the Food Processing Equipment Group, we have had several anticipated
      orders not materialize. The decline in revenues reflects the
      significance of large projects on this business segment, which has
      historically resulted in quarterly sales volatility. We anticipate
      revenues will be impacted for the upcoming quarters due to the delay in
      a number of larger projects.&#8221;
    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;We are pleased to announce the acquisition and addition of several new
      brands to the portfolio early in 2018. These new additions include
      Firex, a leader in steam cooking equipment, Josper, a leader in charcoal
      cooking equipment, and JoeTap, a leader in nitro-brew and cold-brew
      coffee dispensing equipment. The addition of Firex and Josper further
      extend our portfolio of leading cooking brands and product innovation in
      commercial foodservice industry. In both cases, these companies are well
      positioned to benefit from growing foodservice trends related to steam,
      sous-vide, and charcoal cooking. JoeTap further adds to our beverage and
      coffee platform. Cold-brew and nitro-brew are quickly gaining momentum
      and we have seen significant interest in these products from our
      existing customers.&#8221;
    </p>
    <p>
      <u><b>Conference Call</b></u>
    </p>
    <p>
      A conference call will be held at 10 a.m. Central Time on Wednesday, May
      9 and can be accessed by dialing (888) 391-6937 or (315) 625-3077 and
      providing conference code 1892863#. The conference call is also
      accessible through the Investor Relations section of the company website
      at <u>www.middleby.com</u>. A replay of the conference call will be
      available two hours after the conclusion of the call by dialing (855)
      859-2056 and entering conference code 1892863#.
    </p>
    <p>
      Statements in this press release or otherwise attributable to the
      company regarding the company's business which are not historical fact
      are forward-looking statements made pursuant to the safe harbor
      provisions of the Private Securities Litigation Reform Act of 1995. The
      company cautions investors that such statements are estimates of future
      performance and are highly dependent upon a variety of important factors
      that could cause actual results to differ materially from such
      statements. Such factors include variability in financing costs;
      quarterly variations in operating results; dependence on key customers;
      international exposure; foreign exchange and political risks affecting
      international sales; changing market conditions; the impact of
      competitive products and pricing; the timely development and market
      acceptance of the company's products; the availability and cost of raw
      materials; and other risks detailed herein and from time-to-time in the
      company's SEC filings.
    </p>
    <p>
      The Middleby Corporation is a global leader in the foodservice equipment
      industry. The company develops, manufactures, markets and services a
      broad line of equipment used in the commercial foodservice, food
      processing, and residential kitchen equipment industries. The company's
      leading equipment brands serving the commercial foodservice industry
      include Anets&#174;, Bear Varimixer&#174;, Beech&#174;, Blodgett&#174;, Blodgett Combi&#174;,
      Blodgett Range&#174;, Bloomfield&#174;, Britannia&#174;, Carter-Hoffmann&#174;, Celfrost&#174;,
      Concordia&#174;, CookTek&#174;, CTX&#174;, Desmon&#174;, Doyon&#174;, Eswood&#174;, frifri&#174;, Firex&#174;,
      Follett&#174;, Giga&#174;, Globe&#174;, Goldstein&#174;, Holman&#174;, Houno&#174;, IMC&#174;, Induc&#174;,
      Jade&#174;, JoeTap&#174;, Josper&#174;, L2F&#174;, Lang&#174;, Lincat&#174;, MagiKitch'n&#174;, Market
      Forge&#174;, Marsal&#174;, Middleby Marshall&#174;, MPC&#174;, Nieco&#174;, Nu-Vu&#174;, PerfectFry&#174;,
      Pitco Frialator&#174;, QualServ&#174;, Southbend&#174;, Star&#174;, Sveba Dahlen&#174;,
      Toastmaster&#174;, TurboChef&#174;, Wells&#174; and Wunder-Bar&#174;. The company&#8217;s leading
      equipment brands serving the food processing industry include Alkar&#174;,
      Armor Inox&#174;, Auto-Bake&#174;, Baker Thermal Solutions&#174;, Burford&#174;, Cozzini&#174;,
      CVP Systems&#174;, Danfotech&#174;, Drake&#174;, Emico&#174;, Glimek&#174;, Hinds-Bock&#174;,
      Maurer-Atmos&#174;, MP Equipment&#174;, RapidPak&#174;, Scanico&#174;, Spooner Vicars&#174;,
      Stewart Systems&#174;, Thurne&#174; and VeMa.C.&#174;. The company&#8217;s leading equipment
      brands serving the residential kitchen industry include AGA&#174;, AGA
      Cookshop&#174;, Brigade&#174;, Fired Earth&#174;, Grange&#174;, Heartland&#174;, La Cornue&#174;,
      Leisure Sinks&#174;, Lynx&#174;, Marvel&#174;, Mercury&#174;, Rangemaster&#174;, Rayburn&#174;,
      Redfyre&#174;, Sedona&#174;, Stanley&#174;, TurboChef&#174;, U-Line&#174; and Viking&#174;.
    </p>
    <p>
      For more information about The Middleby Corporation and the company
      brands, please visit&#160;<u>www.middleby.com</u>.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>THE MIDDLEBY CORPORATION</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Amounts in 000&#8217;s, Except Per Share Information)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px" valign="bottom">
          Three Months Ended
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1st Qtr, 2018
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1st Qtr, 2017
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Net sales
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          584,800
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          530,297
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Cost of sales
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          373,167
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          320,847
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          Gross profit
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          211,633
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          209,450
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Selling, general and administrative expenses
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          122,948
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          114,984
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Restructuring expenses
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,693
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,725
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          Income from operations
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          86,992
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          92,741
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Interest expense and deferred financing amortization, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          8,823
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          5,805
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Net periodic pension benefit (other than service costs)
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          (9,705
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          (8,338
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Other expense, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,173
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,867
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          Earnings before income taxes
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          86,701
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          93,407
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          21,281
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          22,705
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Net earnings
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          65,420
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          70,702
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Net earnings per share:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Basic
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1.18
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1.24
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Diluted
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1.18
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1.24
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Weighted average number of shares
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Basic
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          55,573
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          57,103
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Diluted
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          55,573
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          57,103
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>THE MIDDLEBY CORPORATION</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>CONDENSED CONSOLIDATED BALANCE SHEETS</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Amounts in 000&#8217;s, Except Per Share Information)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          Mar 31, 2018
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          Dec 30, 2017
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          ASSETS
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          103,290
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          89,654
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          331,609
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          328,421
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Inventories, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          459,151
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          424,639
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Prepaid expenses and other
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          48,464
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          55,427
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Prepaid taxes
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          17,141
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          33,748
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          Total current assets
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          959,655
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          931,889
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          296,473
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          281,915
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Goodwill
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,293,896
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,264,810
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Other intangibles, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          787,513
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          780,426
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Long-term deferred tax assets
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          46,284
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          44,565
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Other assets
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          43,073
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          36,108
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Total assets
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          3,426,894
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          3,339,713
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          LIABILITIES AND STOCKHOLDERS' EQUITY
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Current maturities of long-term debt
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          5,113
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          5,149
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Accounts payable
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          145,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          146,333
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Accrued expenses
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          305,132
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          322,171
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          Total current liabilities
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          455,611
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          473,653
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Long-term debt
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,043,885
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,023,732
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Long-term deferred tax liability
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          91,433
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          87,815
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Accrued pension benefits
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          338,843
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          334,511
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Other non-current liabilities
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          56,464
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          58,854
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Stockholders' equity
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,440,658
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,361,148
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Total liabilities and stockholders' equity
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          3,426,894
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          3,339,713
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>The Middleby Corporation<br>Darcy Bretz, (847) 429-7756<br>Investor
      and Public Relations<br>or<br>Tim FitzGerald, (847) 429-7744<br>Chief
      Financial Officer
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
