The Middleby Corporation (NASDAQ: MIDD) announced that its food processing business will operate under the name Midera Food Processing, Inc., according to a company press release.

The separation of Midera into a standalone public company is expected to be completed on July 6, 2026, subject to customary conditions, including the effectiveness of Midera's Form 10 registration statement with the U.S. Securities and Exchange Commission. Each Middleby stockholder will receive one share of Midera common stock for every one share of Middleby common stock held on the record date.

Midera intends to apply to list its common stock on The Nasdaq Global Select Market under the ticker symbol "MFP" following the separation.

"Over decades we built a global reputation as an industry leader delivering exceptional quality and innovative total line solutions as Middleby Food Processing. Today we are proud to start a new chapter as Midera," said Mark Salman, Midera's incoming Chief Executive Officer and current president of the Middleby Food Processing Group.

The food processing unit operates with a portfolio of more than 30 global brands and employs approximately 2,800 people worldwide. The company provides food processing equipment and automation solutions for industrial protein, bakery, and snack producers across six continents.

Middleby and Midera will host an Investor Day on May 12, 2026, in New York City, where management teams will share each company's long-term strategy and financial framework.

Tim FitzGerald, Chief Executive Officer of The Middleby Corporation, stated that the business is positioned for future success under the Midera name.