MINNEAPOLIS – General Mills, Inc., is acquiring TNT Crust from the private equity firm Peak Rock Capital, Austin, Texas. Terms of the acquisition were not disclosed.

TNT Crust is a manufacturer of frozen pizza crusts for regional and national pizza chains, foodservice distributors and retailers. The business had approximately $100 million in sales in 2021.

“This acquisition advances our ‘accelerate’ strategy and builds on our strong position in the fast-growing away-from-home frozen baked goods category,” said Shawn O’Grady, group president of North America foodservice for General Mills. “We have clear competitive advantages in foodservice with our strategic customer partnerships, best-in-class supply chain, and operator-first innovation capabilities. By adding the high-growth TNT Crust business to our frozen baked goods platform, we are adding to our scale in a category that is on trend with consumers and poised for continued rapid growth.”

The acquisition also will include two manufacturing plants in Green Bay, Wis., and St. Charles, Mo.