07:52 AM EST, 01/27/2025 (MT Newswires) -- Middleby ( MIDD ) confirmed Monday it has been conducting a strategic review of its business portfolio to maximize shareholder value since last year, including a potential separation of its food processing and/or residential kitchen business units.

The company said the review process is in advanced stages and expects to conclude it in the coming months.

"The Board and management team believe that there is unrealized value in the Company's business portfolio and have been evaluating a wide range of options and the optimal timing to unlock that value," the company said.