Operations

General Mills acquires frozen pizza crust brand

Provided

May 12, 2022

General Mills has acquired TNT Crust, a manufacturer of frozen pizza crusts for regional and national pizza chains, for an undisclosed sum. TNT Crust is a portfolio company of Peak Rock Capital, according to a press release.

"This acquisition advances our Accelerate strategy and builds on our strong position in the fast-growing away-from-home frozen baked goods category," Shawn O'Grady, group president of North America Foodservice for General Mills, said in the release. "We have clear competitive advantages in foodservice with our strategic customer partnerships, best-in-class supply chain, and operator-first innovation capabilities. By adding the high-growth TNT Crust business to our frozen baked goods platform, we are adding to our scale in a category that is on trend with consumers and poised for continued rapid growth."

As part of the acquisition, General Mills will acquire two manufacturing facilities in Green Bay, Wisconsin, and one manufacturing facility in St. Charles, Missouri.

The transaction is expected to close in the first quarter of fiscal 2023.