CHICAGO, IL – November 20, 2019; City Capital Advisors (“CCA”), a leading results-driven boutique investment bank serving middle market companies, announced today that it acted as exclusive financial advisor to Brava Home, Inc. (“Brava”) in connection with the sale of the company to The Middleby Corporation (NasdaqGS:MIDD) (“Middleby”).
“We are excited to join forces with forward-thinking and industry-leading Middleby. Our partnership provides tremendous opportunity for us to evolve our cooking solutions, delight our customers and accelerate our reach. We further look forward to collaborating and innovating with the strong portfolio of existing Middleby brands.” said John Pleasants, CEO of Brava.
“We are excited about the growth potential of Brava as consumers discover the benefits of light-cooking technology. The cloud-based, smart-control on the Brava oven resonates with customers of all ages due to its simplicity and ability to turn any user into a chef,” said Middleby CEO Tim FitzGerald. “As Middleby continues to focus on the most progressive technologies, we are addressing a growing market of consumers who are versed in technology and a digital experience. We believe Brava will bring many opportunities to both our residential and commercial businesses, as we extend the technology and capabilities to other Middleby brands.”
About Brava Home
Brava Home Inc, based out of Redwood City, California is well-known for its advanced residential cooking technology paired with a chef-powered service. Brava offers proprietary cooking-by-light technology which provides users a fast, flexible, space saving and eco-friendly appliance for their kitchen counter. The patented light technology cooks food up to four times faster, requires no preheat and allows the preparation of multiple products in the same oven cavity, providing significant time savings and convenience. Additionally, the Brava technology allows for an intuitive, recipe driven and chef supported control that simplifies the cooking experience and ensures the perfect end product for even the least experienced users.
About The Middleby Corporation
The Middleby Corporation, headquartered in Elgin, Illinois, is a global leader in the foodservice equipment industry. The company develops, manufactures, markets and services a broad line of equipment used in the commercial foodservice, food processing, and residential kitchen equipment industries. Such brands include: Viking, Turbochef, Krushr, Rangemaster, Stanley, U-Line, Toastmaster, Lynx, AGA group and many more.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-driven investment banking advisory firm. Each of City Capital’s Managing Directors has more than 25 years of investment banking experience, offering clients judgment and transaction management expertise honed from successfully executing more than 500 merger & acquisition and capital raising transactions, collectively, over their professional careers. Our client engagements are managed exclusively by experienced senior investment bankers, allowing our business owner clients to realize maximum value for their companies, often exceeding their original objectives.