due north

Open air commercial refrigerated showcases company, MTL COOL, has been acquired by Due North Brands—the newly created operating company of QBD and Minus Forty. The strategic acquisition aims to allow Due North to further diversify and complement its multiple-product lineup.

"With these three brands operating under Due North, our business is well positioned with both high-quality merchandising products and services. We now have the product reach to become the preferred choice for food and beverage brands and retailers. Our recent announcement of the creation of Due North reinforces industry confidence in our long-term plan to deliver advanced refrigeration solutions that provide value to our customers,” said Troy Shannan, CEO of Due North. “We are committed to using all our resources and status to boost both our brand and the sales of the industries we serve.”

Under Due North, MTL COOL will continue to offer products including inline horizontal open-air coolers, horizontal sliding glass lid coolers & freezers, vertical open-air coolers and endcap solutions. Through the interconnected and collaborative Due North approach, an expanded suite of display coolers is intended to maximize the sales of its customers while simplifying their refrigerated retail merchandising programs.

Due North was formed in 2021 by Ronin Equity Partners, which simultaneously acquired and merged QBD and Minus Forty into a platform for consolidation in the fragmented North American refrigerated display case industry. Some 60 per cent of the industry is divided between over one hundred family-owned businesses. Due North reports that it is looking at multiple acquisitions in the U.S., Europe and Latin America.

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