Arkansas Business

Tyson Foods Inc. of Springdale announced Friday that it will sell its pizza crust business, TNT Crust, to an affiliate of private equity firm Peak Rock Capital of Austin, Texas.

Terms of their agreement were not disclosed, but the companies hope to close the deal next month.

TNT Crust produces partially-baked and self-rising pizza crusts for frozen pizza manufacturers and food service customers. It employs 400 people at two manufacturing facilities in Green Bay, Wisconsin.

“TNT Crust is a solid business supported by a great team, however, our strategy is focused on expanding Tyson Foods’ leadership position in protein,” Sally Grimes, Tyson’s group president of prepared foods, said in a news release. “We’re pleased Peak Rock Capital plans to continue operating the business and provide continued opportunities for the workforce. We intend to work closely with them to ensure a smooth ownership transition for everyone, including our team members and customers.”

Tyson Foods has also divested some other bakery operations. It recently completed the sale of its Sara Lee Frozen Bakery and Van’s businesses to private equity firm Kohlberg & Co. of Mount Kisco, New York.