Middleby (MIDD) said Monday its Food Processing business will now operate as Midera Food Processing, marking a step toward its planned separation into a standalone public company.

The rebranding reflects a push to position the business as a more focused, tech-driven platform offering end-to-end food processing solutions, the company said.

Midera said it will build on a portfolio of over 30 global brands as it looks to speed up innovation and improve execution across markets.

Mark Salman, who currently leads Middleby's Food Processing Group, will become CEO of Midera, it said.

The spin-off is expected to be completed on July 6, 2026, subject to customary conditions, including the effectiveness of Midera's Form 10 registration statement with the U.S. Securities and Exchange Commission, Middleby said.

Under the plan, existing Middleby shareholders will receive one Midera share for each share they hold on the record date, it added.