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Peak Rock Capital affiliate to acquire TNT Crust From Tyson Foods

An affiliate of middle market private equity firm Peak Rock Capital (Peak Rock) is to acquire the TNT Crust business (TNT), a manufacturer and distributor of pizza crusts, from Tyson Foods, Inc.

Founded in 1981, TNT is a manufacturer and distributor of partially baked, self-rising, flat breads and other pizza crusts for the foodservice and retail channels. TNT has a diverse customer base, including blue chip national and regional restaurants, pizza manufacturers, and foodservice distributors. Headquartered in Green Bay, Wisconsin, and operating out of two BRC-certified manufacturing facilities, the Company has built an excellent reputation in the industry for its outstanding product quality, innovative product solutions and unmatched customer service.
 
Robert Pistilli, Managing Director of Peak Rock Capital, says: “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. Peak Rock’s current investments in the food space include Sweet Harvest Foods, a leading producer and distributor of honey; Berner Food & Beverage, a leading manufacturer of dairy-based shelf-stable snacks and beverages; Diamond Crystal Brands, a leading manufacturer and distributor of portion control and single serve food and beverage products; and Gold Coast Bakeries, a leading manufacturer of specialty and organic breads, buns, and rolls.
 
Anthony DiSimone, Chief Executive Officer of Peak Rock, adds: “This transaction is another example of Peak Rock’s deep experience in executing complex carveout transactions. It also highlights our continued interest in attractive investments in the food and beverage industry. 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.”

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