Manufacturer, even after pandemic dip, sold in $4.3 billion deal

NEW PORT RICHEY — New Port Richey-based Welbilt Inc., a maker of foodservice equipment, has been sold.

Illinois-based Middleby Corp., which also makes foodservice equipment, acquired the company in an all-stock deal. According to a statement released by both companies, the deal could be valued at $4.3 billion. Shares of Welbilt (NYSE: WBT) surged on news of the deal, closing Wednesday at $22.58 a share, up 44.46% from $15.63 a share Tuesday. The company is one of the region's largest employers and manufacturers.