Middleby Buys Another Brewing Specialist
Craft beer is a growing industry. According to the U.S.-based Brewers Association for Small and Independent Craft Brewers, craft beer production grew 4% in 2018 (the most recent date for which data is available) to take a 13.2% market share in total beer sales in the U.S. And the 50 fastest growing breweries in the U.S. grew even faster -- up 10%.
Hoping to capitalize on this growth, commercial kitchen equipment manufacturer Middleby (NASDAQ: MIDD) bought Ss Brewtech, an onsite brewing equipment manufacturer for home-brewers and microbreweries, last June. Today, Middleby announced a second and more sizable investment in the breweries space: Deutsche Beverage Technology.
Image source: Getty Images.
Source Fool.com
