General Mills Acquire Frozen Pizza Crust Producer TNT Crust

General Mills, a food giant based in Minnesota has now entered into a definitive agreement for acquiring TNT Crust, which is a producer of the better for you frozen pizza crusts. Shawn O’Grady, group president of North America Foodservice of General Mills said, this acquisition has advanced their accelerate strategy and building on their strong position in the category of the away from home and fast growing frozen baked goods.

He also said that, they are having clear competitive advantages in the foodservice along with their strategic customer partnerships along with the best in class supply chain and operator first innovation capabilities.

In the first nine months to 27^th February 2022, the North American foodservice business had also seen the increase in the sales by 24 percent from a year earlier to 1.32 billion dollars and it has also helped by the industry reopening after the novel corona virus.

Shawn O’Grady also said, by adding the high-growth business of TNT Crust to their frozen baked goods platform and they are also adding to their scale in a category that has been on trend with the consumers and are poised for the continued rapid growth.

TNT Crust has been producing the pizza crusts that are highly complementary to the existing frozen baked goods portfolio of General Mills and the business, which is a portfolio company of the Peak Rock Capital and has also leveraged the company’s differentiated products and strong relationships with the main operators for driving the double digit compound annual net sales growth over the previous four years.