Garden Investments takes stake in kitchen equipment maker Middleby- WSJ By Investing.com

Investing.com– Garden Investments, a new firm formed by a co-founder of Trian Fund Management, has taken an activist position in kitchen equipment maker Middleby Corp (NASDAQ:), the Wall Street Journal reported on Thursday.

Garden Investments- formed by Ed Garden- has built up an almost 5% stake in Middleby, the WSJ report said, with the activist investor calling for changes to boost Middleby’s sluggish share price.

Middleby’s shares rose 2.2% in aftermarket trade following the WSJ report. 

Middleby is trading up about 2% in the past 12 months, vastly lagging peers such as Spectrum Brands Holdings Inc (NYSE:) and Whirlpool Corporation (NYSE:), who are up 9.3% and 19.1%, respectively.