26North Acquires Majority Stake in Middleby’s Residential Kitchen Division, Rebrands as Composition Brands
26North Completes Majority Investment and Launches Composition Brands as an Independent Platform
26North Partners LP and The Middleby Corporation announced that affiliates of 26North have completed the acquisition of a controlling interest in Middleby’s Residential Kitchen business, establishing a new joint venture structure in which Middleby retains a significant non-controlling ownership stake while enabling the business to operate independently under its newly launched identity, Composition Brands, marking a major milestone in the evolution of a portfolio of iconic premium and ultra-luxury residential kitchen and outdoor living brands.
Formation of a Standalone Business Focused on Long-Term Value
With the closing of the transaction, Composition Brands begins its next chapter as a standalone company designed to operate with greater agility, sharper strategic focus, and a long-term investment horizon, allowing the organization to concentrate exclusively on strengthening brand equity, accelerating innovation, and enhancing customer and partner experiences across the residential kitchen and outdoor living ecosystem.
A Curated Portfolio of Iconic Global Brands
Composition Brands brings together a carefully curated portfolio of category-defining names, including Viking, AGA, Rangemaster, La Cornue, Lynx, and U-Line, brands that are widely recognized for their heritage, craftsmanship, and leadership within the premium and ultra-luxury segments of residential appliances, kitchen design, and outdoor living solutions.
Preserving Heritage While Advancing a Unified Vision
The new Composition identity reflects a portfolio united by shared values of craftsmanship, thoughtful design, and dependable performance, while maintaining the distinct character, history, and individuality that have defined each for generations, ensuring that the legacy and authenticity of each name remains central to its future growth strategy.
Strategic Partnership Between 26North and Middleby
The transaction underscores a collaborative partnership between 26North and Middleby, combining 26North’s investment expertise, operational discipline, and long-term perspective with Middleby’s deep industry knowledge, manufacturing excellence, and global reach, creating a foundation designed to support sustainable growth and enduring brand leadership.
Leadership Perspective on Unlocking Full Potential
Mark Weinberg, Partner and Head of Private Equity at 26North, emphasized that the firm, alongside the management team and Middleby, has already begun the work required to help Composition reach its full potential as an independent company, with a clear focus on supporting market-leading brands through enhanced resources, disciplined operations, and a commitment to long-term value creation.
Transition Planning and Operational Continuity
Since signing the transaction, 26North has worked closely with Middleby and the Composition Brands leadership team through an extensive transition and planning process, ensuring continuity for employees, channel partners, and customers, while laying the operational, financial, and organizational groundwork needed to support the company’s next phase of ambitious growth.
Commitment to Employees, Partners, and Customers
Throughout the transition, maintaining stability and confidence among employees, suppliers, dealers, and customers has remained a top priority, reinforcing trust in the brands and ensuring that day-to-day operations, service levels, and product quality continue without disruption as the business moves forward under its new structure.
Supporting the Residential Design and Living Ecosystem
Composition Brands will continue to support partners across the residential ecosystem, including dealers, designers, architects, builders, and homeowners, delivering products and experiences shaped by design leadership, attentive service, and uncompromising quality, while deepening relationships that are critical to success in the premium and luxury segments.
Enhanced Agility as an Independent Organization
Operating as an independent company provides Composition Brands with increased flexibility to respond quickly to market trends, customer feedback, and design innovation opportunities, enabling faster decision-making and more focused investment in areas that directly enhance brand differentiation and customer value.
CEO Vision for Innovation and Performance
Composition Brands Chief Executive Officer Brody Connolly highlighted that independence sets a higher standard for excellence, allowing the organization to move faster to strengthen product performance, accelerate innovation, and build shared capabilities that elevate every brand within the portfolio, reinforcing a clear sense of purpose and strategic alignment.
Accelerating Product Development and Design Leadership
As a standalone platform, Composition Brands is positioned to invest more deeply in research, design, and engineering, supporting the development of next-generation products that blend performance, aesthetics, and functionality while responding to evolving consumer preferences in luxury kitchens and outdoor living spaces.
Building Shared Capabilities Across the Portfolio
The new structure enables Composition Brands to develop shared capabilities across its portfolio, including advanced manufacturing processes, supply chain optimization, digital tools, and customer service platforms, creating efficiencies that enhance performance while preserving the unique positioning of each brand.
Elevating the Luxury Residential Experience
By aligning operational excellence with design-driven innovation, Composition Brands aims to shape the future of luxury residential kitchens and outdoor living, delivering cohesive yet distinctive experiences that meet the expectations of discerning homeowners and professionals worldwide.
About 26North Partners LP
26North Partners LP is an integrated, multi-asset-class investment platform founded by Josh Harris, providing investment advice and opportunities across private equity, credit, insurance, and reinsurance strategies, with a focus on disciplined investing, operational improvement, and long-term value creation.
26North’s Track Record and Growth
Since its launch in 2022, 26North has grown rapidly to more than $32 billion in assets under management, supported by a team with decades of experience managing third-party capital and helping clients achieve their financial objectives while making a positive impact on the communities in which they operate.
About Composition Brands
Composition Brands is an independent residential kitchen and outdoor living platform built around a portfolio of premium and ultra-luxury brands, including Viking, AGA, Rangemaster, La Cornue, Lynx, and U-Line, each known for craftsmanship, thoughtful design, and dependable performance.
Long-Term Stewardship of Distinctive Brands
The company is committed to the long-term stewardship of its brands, ensuring they continue to evolve while honoring their heritage, and to supporting partners across its ecosystem with high-quality products, reliable service, and collaborative relationships.
About The Middleby Corporation
The Middleby Corporation is a global leader in the foodservice industry, developing and manufacturing a broad range of solutions used in commercial foodservice and food processing, and showcasing advanced technologies through its network of Middleby Innovation Kitchens and specialized innovation centers.
Continued Collaboration Following the Transaction
Following the completion of the transaction, Middleby remains a strategic partner through its retained ownership stake, supporting Composition Brands as it pursues growth and innovation while allowing both organizations to focus on their respective strategic priorities.
Positioning for Sustainable Growth
With strong financial backing, experienced leadership, and a portfolio of iconic brands, Composition Brands enters its next phase positioned for sustainable growth, enhanced innovation, and continued leadership in the premium and ultra-luxury residential kitchen and outdoor living markets.
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