Shares of The Middleby Corp. (MIDD, Financial), a leading food equipment manufacturer, rose in the second quarter following the company’s announcement that it was in preliminary discussions to acquire AGA Rangemaster Group plc, a U.K.-based residential kitchen equipment manufacturer. While there is no certainty this deal will close, the potentially accretive acquisition highlighted Middleby’s acquisition acumen as well as its commitment to grow the residential kitchen equipment business through brand and geographic expansion. (Rebecca Ellin)
From Baron Funds' second quarter commentary.
