The Schwan Food Company, Marshall, Minn., said it sold the assets of its Canadian subsidiary, T&N Foods Inc., to a new group led by T&N's founder Tony Merulla. Terms of the deal were not disclosed.
The asset sale includes T&N's 55,000-square-foot plant in Montreal, which employs about 100 people.
Officials said Schwan decided to sell the T&N assets as it "increases its focus on primary brands."
Founded in 1989 by Merulla, T&N processes and markets frozen pizza and bread products for private label and foodservice distribution in Canada and the United States. The business is credited with developing Canada's first rising-crust frozen pizza and today it is one of Canada's leading premium frozen private label pizza suppliers.
Schwan sells T&N frozen pizza biz
September 9, 2009