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Announced

Completed

General Mills completed the acquisition of TNT Crust from Peak Rock Capital.

Synopsis

General Mills, an American multinational manufacturer and marketer of branded consumer foods, completed the acquisition of TNT Crust, a manufacturer of high-quality frozen pizza crusts for regional and national pizza chains, foodservice distributors, and retail outlets, from Peak Rock Capital, a private equity firm. Financial terms were not disclosed. "This acquisition advances our Accelerate strategy and builds on our strong position in the fast-growing away-from-home frozen baked goods category. 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," Shawn O’Grady, General Mills Group President of North America Foodservice.

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