Middleby Buys TurboChef

Middleby expanded its commercial business and slightly added to its residential business with its agreement to purchase TurboChef.TurboChef indicated that the market slowdown and their Q2 results were key to the decision to sell.  TurboChef promised to scale back its residential business following the sale......but the feeling is that the scaling back was already managed by the market.  TurboChef launched aggressively styled ovens which broke with moldy traditions and all expectations to illustrate the dramatic difference in oven technology within.  Turbochef ovens featured radiant heat, microwaves, and high velocity cork screwing jets of air.  The speed of the ovens allowed Dominoes to deliver in 30 minutes, Subway to make bread on premises, and Dunkin Donuts and Starbucks to offer all those fancy sandwiches. 
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- which had a slightly similar residential high tech oven strategy slipped under the waves with nary a whimper sometime before December 2007.
-Whirlpool's Polara range with TMIO type oven technology disappeared soon after launch.
-Thermador's CJ oven system, which used the same jet impingement oven technology as TurboChef was canceled in 1998/1999, shortly after launch.  The blame for cancellation has been put at the feet of both technical complications and unwillingness on BSH's part to plow ahead to perfect a technology not of their making.
-Quadalux's Flashbake oven employed halogen lighting in a microwave-size unit with promises of accelerated cooking.  Quadalux vaporized.
-Russell Range, (raise your hand if you remember Russell), introduced ambient pressure steam assisted cooking........and well....by now you know how this ends.

The most common high speed oven technology in use today is the triple combination of microwaves, radiant heat and convection first introduced by Thermador and now found throughout the industry (Sharp, GE Monogram to name a few).

UPDATE August 13:  Reached TurboChef Senior VP of Corporate Strategies and Investor Relations Al Cochran.  Mr. Cochran spoke of the day that TurboChef's plans for world domination started to come apart at the seams.  The day in January that Starbuck's Howard Schultz announced that breakfast sandwiches just ain't what the "Starbuck's" experience is all about.  The day that all Starbuck's North American operations immediately suspended purchases of TurboChef ovens which coincidentally aligned with the depths of economic malaise (a.k.a a word starting with 'R' which shall not be named).  Mr. Cochran indicated that TurboChef will remain in residential and will leverage its existing relationship with Emeril Lagasse and Martha Stewart, but will reduce its overall expenditures in sales, marketing and product development.  More of a "pull" rather than a "push" strategy.  Several people involved in residential marketing and product development were released (canned) from TurboChef in May, but none are expected to be released (fired) as a result of the agreement with Middleby.  Mr. Cochran said that it is expected that the combination of Middleby and TurboChef will result in greater efficiencies through supply chain management and therefore enhanced profitability.  

What's the fine print?  How does this effect all of our lives?  There's a great chance that no one will be handing out succulently roasted cow samples at the next KBIS.  That makes me sad.