Middleby appoints Salman CEO, Bowie COO ahead of $850 M Food Processing spin-off
Middleby will spin off its Food Processing business as an independent public company in Q2 2026, appointing President Mark Salman as CEO and Mark Bowie as COO. The unit generated $850 million in revenue in 2025 and grew from $390 million in 2018 via 16 acquisitions totaling $300 million in annual revenues.
1. Leadership Changes for Spin-Off
Middleby has named Mark Salman, current President of the Food Processing Group, as CEO and appointed Mark Bowie as COO for the newly independent Food Processing business. Both executives will assume their roles upon completion of the spin-off, which remains on track for the second quarter of 2026.
2. Financial Performance of Food Processing Unit
The Food Processing segment reported $850 million in revenue in 2025 and has expanded from $390 million in 2018 by completing 16 strategic acquisitions that contributed roughly $300 million in combined annual revenues. Under Salman’s leadership, the unit achieved industry-leading adjusted EBITDA margins and sustained strong organic growth.
3. Strategic Rationale and Impact
The spin-off is part of Middleby’s strategy to create three focused, industry-leading businesses, enabling the Food Processing unit to pursue its own capital allocation strategy, optimize its capital structure and accelerate growth through targeted investments and acquisitions.