The Middleby Corporation (NASDAQ: MIDD) has agreed to sell a 51% stake in its Residential Kitchen business to affiliates of 26North Partners LP, valuing the unit at $885 million. Middleby will retain a 49% non-controlling interest in the new joint venture, receiving approximately $540 million in cash and a $135 million seller note.
The Residential Kitchen portfolio includes premium brands such as Viking, AGA Rangemaster, La Cornue, Kamado Joe, Marvel, Novy, and U-Line. This move, alongside the planned spin-off of Middleby’s Food Processing segment in H1 2026, advances the company’s strategy to become a pure-play commercial foodservice leader.
With a sharpened focus, Middleby is positioned for accelerated growth through innovation and automation, offering a robust lineup of commercial kitchen solutions that enhance labor efficiency, reduce food costs, and expand into high-potential markets like ice and beverage.
The commercial foodservice business stands strong with 2024 revenue of $2.38 billion, $654 million in Adjusted EBITDA, and a margin exceeding 27%
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Middleby Residential UK
Middleby Residential has announced the appointment of Dominic Worsley, former managing director of CDA, as the new UK group managing director. In this role, Worsley will oversee a diverse range of brands, including Aga, Rangemaster, Rayburn, La Cornue, Novy, and Josper.
Worsley brings a wealth of experience to the position, having spent the past two years leading CDA. His career also spans various roles beyond the kitchen, bedroom, and bathroom (KBB) sector, showcasing his versatile expertise.
New from Novy
Novy presented its new products for next year. The most important concerns developments in its Easy cooker hood, which becomes quieter. The size of the motor will also be reduced, thus limiting the space taken up under the work surface. It will also be available in a smaller size (65 cm). The Belgian brand also took the opportunity to showcase its Lighting range,The Easy table with integrated hood is available in 65 cm
Next year, Novy will upgrade its Easy ventilated cooktop. Currently offered in a size of 80 cm, it will also exist from spring 2024 in a 65 cm format (with a standard recess of 46×59 cm, specifies Frédéric Duseaux). The aim is to respond to the need to equip smaller spaces and to offer an offer adapted to tighter budgets, but while retaining the fundamentals of the brand.
The two versions of the Easy ventilated table will benefit from the same characteristics in terms of ventilation and cooking, in particular two flexible zones with octagonal inductors. There is also a seven-layer metal filter block, a long-lasting one-piece filter (which can be used for four years before replacing it, without any maintenance), automatic adaptation of the hood’s operation and a 5-year warrantyNovy’s R&D teams have also made the Easy cooktop quieter (maximum sound level of 66 dB), by working on both insulation and air flow circulation. Frédéric Duseaux explains that it is not only a question of sound level but of perception of noise: “it is a question of frequencies. We removed all the sharp peaks to get a round sound, to make it less unpleasant.” In the middle of the living room, we were able to hold a conversation while remaining next to the device whose ventilation was set to its maximum level. This optimized version of the Easy table hood will enter production from March 2024.
Less clutter under the worktop
Like other manufacturers, Novy seeks to facilitate implementation to meet the needs of kitchen designers, who are also facing a shortage of fitters. The new generation Easy ventilated table will benefit from another development which goes in this direction. Novy reworked the height of the engine, which lost 1 cm. This allows you to return to 21.5 cm of recess (including the glass). Which means that under the worktop, we only remove the first drawer, without encroaching on the second. If this meets the expectations of kitchen designers, end customers will also appreciate this space saving.
In addition, the brand’s vacuum tables can be installed for evacuation or recycling, which is the case in 90% of kitchens, according to Frédéric Duseaux. Installation is thus simplified with equivalent efficiency. “Today equipment has evolved a lot in recycling and air treatment. There is almost no difference anymore. The main thing is related to the use of the product. You must respect the fundamentals, namely turn on your hood or extractor table 15 minutes before cooking and leave it running for 30 minutes at the end of the cycle to eliminate all smoke and humidity, and to dry the entire unit. filtering and reinjecting dry air into the living room

Novy Group announces appointment of new global CEO
Novy has announced the promotion of Francis Gistelinck from commercial director to chief executive officer for global operations. His new role officially commenced on 1st September 2022.
Based at the company’s HQ in Kuurne, Belgium, Gistelinck takes over from CEO, Carlos Wanzeele, who has stepped down from his eight-year tenure following the successful sale of the family-run business to Middleby Residential. Whilst in the role, Wanzeele doubled the company’s turnover from 45million to over 100million Euros.
Francis Gistelinck started work at the Novy Group in 2016. Together with Carlos Wanzeele, they developed a global growth expansion strategy for Novy, which included the appointment of Owain Harrison as country manager who set up the first ever Novy UK and Ireland subsidiary, launching in 2017. Since then, the Novy brand has firmly established itself as a leading name in luxury extraction and vented induction hobs, with a network of kitchen specialists throughout the UK. The company says that Gistelinck will be focusing on further growth the brand, including new innovations in product development, whilst building synergies for Novy’s distribution and operations within the Middleby Residential portfolio around the world.
Novy’s Panorama collection of vented downdraft extractor hobs
The Panorama PRO 120 is the latest addition to Novy’s Panorama collection of vented downdraft extractor hobs.
The hob features five uninterrupted cooking zones in a side-by-side configuration that can also be bridged to become a fully zoneless cooking area.
Designed for those seeking a flexible and technologically advanced surface cooking centre, the Novy hob also has a special grill function for use with a grill pan accessory together with a wide range of advanced cooking functions including automatic pan detection, automatic cooking, keep warm, chef function, Stop&Go pause function and timers for each zone.

Integrated within the hob’s surface is the 110cm semi-transparent ventilation tower that rises by up to 30cm to extract cooking vapours at source – directly behind the pans.
With a maximum free flow rate of 1,530m³/h, the powerful extractor has five speeds plus three intensive speeds together with a pre-set extraction function to automatically adjust the power level.
When cooking has ended, the tower retracts back into the hob’s surface to be completely concealed from view. In addition to touch controls on the hob’s surface, the extractor can also be controlled and adjusted using the Novy Connect app, which also monitors air quality in the room
Middleby Acquires Premium Residential Appliance Brand Novy
The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Novy, a leading manufacturer of premium residential ventilation hoods and cooktops based in Belgium, with sales of approximately $90 million USD annually and EBITDA margins in excess of 20%.
