Peak Rock Capital has agreed to buy pizza crust business TNT Crust from Tyson Foods.
The company, which was founded in 1981, makes and distributes partially-baked, self-rising, flat breads and other pizza crusts for the foodservice and retail channels.
Peak Rock managing director Robert Pistilli said, “TNT represents an exciting opportunity to invest in an industry leader within the large and growing pizza category.
“We look forward to completing a seamless transition of the business from Tyson 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.”
This transaction is the seventh recent food and beverage investment that Peak Rock has made.
Its current portfolio includes honey maker Sweet Harvest Foods, dairy snack business Berner Food & Beverage, portion control and single-serve meal specialist Diamond Crystal Brands organic bread, bun and roll business Gold Coast Bakeries.
Peak Rock CEO Anthony DiSimone said, “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.”
The parties expect the transaction to close in September 2018.
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