Company remains focused on core protein business
SPRINGDALE, Ark., March 27, 2018 (GLOBE NEWSWIRE) -- As part of its strategic focus on protein, Tyson Foods, Inc. (NYSE:TSN) is exploring the sale of its pizza crust business (TNT Crust), the company reported today.
“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, 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, Wis. 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.
About Tyson Foods
Tyson Foods, Inc. (NYSE:TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp® and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company has 122,000 team members. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it.
Caroline Ahn, 312-614-6047, firstname.lastname@example.org
Source:Tyson Foods, Inc.