General Mills, Inc. (NYSE:GIS) entered into an agreement to acquire TNT Crust, Inc. from Peak Rock Capital LLC on May 11, 2022. The company intends to fund the acquisition with cash on hand and short-term borrowings. The transaction is expected to close in the first quarter of fiscal 2023, subject to regulatory approval and other closing conditions.

James Dougherty and Dotun Obadina of Jones Day is serving as legal adviser to General Mills for the transaction. Goldman Sachs & Co. LLC and Evercore is acting as financial advisor to TNT Crust.

Benjamin P. Clinger and Matthew Goulding of Kirkland & Ellis is serving as TNT Crust's legal advisor.