Chicago, Illinois, November 30, 2003 - H.C. Duke and Son, Inc. ("H.C. Duke"), the second largest North American manufacturer of soft service ice cream machines, shake freezers, and frozen beverage dispensers to the foodservice industry, was acquired by the ALI Group, Spa on November 30, 2003. H.C. Duke, headquartered in Moline, Illinois, is a major supplier of frozen dessert equipment under the H.C. Duke® and Electro Freeze® brand names to national and regional foodservice chains including International Dairy Queen, SONIC Corporation, and Braum's Ice Cream.

The ALI Group, Spa is one of the world's leading designers, manufacturers, and suppliers of equipment and support services to the foodservice industry. Headquartered in Milano, Italy, the Company operates subsidiaries in nine different countries.

Duff & Phelps, LLC, a Chicago-based investment banking and financial advisory firm, initiated the transaction, assisted in negotiations, and served as the exclusive financial advisor to H.C. Duke & Son, Inc.