As part of its strategic focus on protein, Tyson Foods is exploring the sale of its pizza crust business, TNT Crust, the company reported March 27.
“We’re focused on maximizing the full potential of our core business, and this divestiture will help pave the way for growth in our protein brands,” said Sally Grimes, Tyson Foods' group president, Prepared Foods. “We believe a potential buyer will see the value of the pizza crust business as a whole, including the TNT Crust brand, the facilities, and the talented team members, and will be able to focus on its future.”
The sale of TNT Crust includes the pizza crust business of partially baked crusts, flat breads and self-rising crusts as well as the company’s two manufacturing facilities in Green Bay, Wisconsin. The company will retain the tortilla production from the facilities that will be used in other parts of its business. Goldman Sachs is acting as Tyson Foods’ financial adviser on the sale.