Tyson Foods is selling its pizza crust pizza to an affiliate of private equity firm Peak Rock Capital for an undisclosed amount.
The sale includes TNT Crust, a business founded in 1981 that produces partially-baked and self-rising pizza crusts for frozen pizza manufacturers and foodservice customers.
The more than 400 team members employed at two manufacturing facilities in Green Bay, Wisconsin, are expected to 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,” said Sally Grimes, Group President, Prepared 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.”
The deal is slated to complete in September.