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Kekst & Co. represents Peak Rock Capital's acquisition of TNT Crust from Tyson Foods, a deal that marks the seventh recent food/beverage deal for the Austin-based private equity firm.
Green Bay-based TNT produces partially baked, self-rising flat breads and crusts for pizza manufacturers, pizzerias, restaurants and foodservice distributors. It has 400 workers.
Anthony DiSimone, PRC's CEO, said the deal shows the firm's "deep experience in executing complex carve-out transactions" and highlights its continued interest in the food and beverage sector.
PRC's investments include Sweet Harvest Foods (honey), Berner Food & Beverage (dairy-based shelf-based snacks/beverages), Diamond Crystal Brands (portion control and single serve food/beverages) and Gold Coast Bakeries (specialty and organic breads, rolls and buns)
The TNT transaction is expected to close next month.
Kekst's Daniel Yunger and Cathryn Vaulman represent PRC.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
