Viking Range acquired by TurboChef maker.
- nokitchen Dec 31, 2012 07:20 PM
Viking Range has been acquired by Middleby Corp. Viking has been capital-constrained for its entire existence so having a richer parent may help them grow. On the other hand this is a big bite for Middleby, increasing sales by 20% and an expensive one at almost 2X sales.
This is what happens when you double capacity,lower quality, and do it right before a recession. And are forced to frantically search for volume by giving high-end home builders a big discount to buy your wares over Wolf/SubZero and Monogram.
If LG,the long rumored suitor,acquired Viking I would bet on Viking being degraded to a glamorized LG luxury division in short order.
Although Middleby has Turbochef and Jade that make products for the residential market their bread and butter is the commercial market. Middleby tech,including Cooktek induction, may help Viking in the long run.