Wednesday 22 June 2022

US-based food company General Mills (NYSE: GIS) has completed the acquisition of US-based frozen pizza crust maker TNT Crust.

TNT Crust is a manufacturer of frozen pizza crusts for regional and national pizza chains, foodservice distributors, and retail outlets.

TNT Crust was a portfolio company of Peak Rock Capital.

The TNT Crust business has generated double-digit compound annual net sales growth over the past four years, with net sales totaling approximately USD 100m in 2021.

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

General Mills' portfolio of brands includes household names such as Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Annie's, Wanchai Ferry, Yoki and more.

Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2021 net sales of USD 18.1bn.

In addition, the company's share of non-consolidated joint venture net sales totaled USD 1.1bn.