Zero Zone Sold to Investment Group
The company makes refrigerated display cases and equipment for supermarkets, convenience stores, and drug stores as well as refrigeration and electrical distributed systems used in supermarkets, ice arenas, and cold storage industrial applications.
According to published reports, the seller was SuperValu Inc., Eden Prairie, Minn., which in February 2005 completed its $234 million acquisition of Zero Zone's former corporate parent, Milwaukee-based Total Logistics Inc.
The Zero Zone management team, consisting of Jack Van Der Ploeg, chairman and CEO; Dave Morrow, president; John Duimstra, CFO; and Steve Esslinger, vice president of operations, will remain in place, according to an announcement from the company.
"We see the acquisition as a very positive development," said Van Der Ploeg. "We view this as a solid opportunity to further strengthen our market position and grow our business, both in refrigeration equipment and refrigeration systems."
"There are no changes anticipated in the distribution of Zero Zone products. Existing warranties won't be affected or changed on future work," said Esslinger.
For more information, go to www.zero-zone.com.
Publication date: 03/13/2006