Tyson Foods looking to divest pizza crust business
by March 28, 2018 9:19 am 334 views
In its effort to focus on protein, Tyson Foods said Tuesday (March 27) it plans to sell its pizza crust business, which is part of its prepared foods division.
“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,” Sally Grimes, group president of prepared foods, said in a news release. “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 advisor on the sale.