Sector News

Tyson Foods divests pizza crust business to private equity firm

August 14, 2018
Consumer Packaged Goods

Tyson Foods has reached an agreement to sell its pizza crust business, TNT Crust business (TNT), to an affiliate of private equity firm Peak Rock Capital (Peak Rock). Terms of the deal have not been disclosed. However, the two companies hope to complete the deal by September. The transaction is the seventh recent food and beverage investment for Peak Rock.

Founded in 1981, TNT is a manufacturer and distributor of partially baked, self-rising, flatbreads and other pizza crusts for the foodservice and retail channels. TNT has a diverse customer base, including blue chip national and regional restaurants, pizza manufacturers and foodservice distributors.

Headquartered in Green Bay, Wisconsin and operating out of two BRC-certified manufacturing facilities, TNT has built a good reputation in the industry for its outstanding product quality, innovative product solutions and unmatched customer service, according to the company.

Robert Pistilli, Managing Director of Peak Rock Capital, says: “TNT represents an exciting opportunity to invest in a leader within the large and growing pizza category. We look forward to completing a seamless transition of the business from Tyson Foods to a standalone entity in the near-term and working with the management team to drive significant growth and support TNT’s customers with continued product innovation.”

Peak Rock’s current investments in the food space include Sweet Harvest Foods, a producer and distributor of honey, Berner Food & Beverage, a manufacturer of dairy-based shelf-stable snacks and beverages, Diamond Crystal Brands, a manufacturer and distributor of portion control and single-serve food products and Gold Coast Bakeries, a manufacturer of specialty and organic bread.

Anthony DiSimone, CEO of Peak Rock, adds: “This transaction is another example of Peak Rock’s deep experience in executing complex carve-out transactions. It also highlights our continued interest in attractive investments in the food and beverage industry. We believe that TNT represents an excellent platform for growth and we will actively pursue both organic initiatives as well as accretive add-on acquisitions.”

Source: Food Ingredients First

comments closed

Related News

April 26, 2024

Haleon names new Finance Chief and new CHRO

Consumer Packaged Goods

Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.

April 26, 2024

Campari to double Aperol production capacity with €75m investment

Consumer Packaged Goods

The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.

April 26, 2024

Coca-Cola enters $1.1bn strategic partnership with Microsoft

Consumer Packaged Goods

The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.

How can we help you?

We're easy to reach