Tyson Foods, Inc., Springdale, Ark., announced plans to sell its pizza crust business to an affiliate of private equity firm Peak Rock Capital, Austin, Texas.
The sale includes TNT Crust, which produces partially-baked and self-rising pizza crusts for frozen pizza manufacturers and foodservice customers. The more than 400 team members employed at the two manufacturing facilities in Green Bay, Wis., will continue with the company under the new owner.
“TNT Crust is a solid business supported by a great team, however, our strategy is focused on expanding Tyson Foods’ leadership position in protein,” says Sally Grimes, group president, prepared foods, Tyson Foods. “We’re pleased Peak Rock Capital plans to continue operating the business and provide continued opportunities for the workforce. We intend to work closely with them to ensure a smooth ownership transition for everyone, including our team members and customers.”