Kroger mulling sale of Turkey Hill
On Aug. 7, Kroger released a statement announcing that it was exploring strategic alternatives for its Turkey Hill business, including a potential sale of the national ice cream brand.
“Turkey Hill is a unique CPG food business within Kroger Manufacturing as it is a strong, nationally-known brand,” said Erin Sharp, group vice president for Kroger Manufacturing. “Turkey Hill’s successful and recognizable ice cream and beverage products have the potential for greater growth outside of our company. We want to ensure Turkey Hill has every opportunity to meet its full potential,” Sharp said.
Turkey Hill has more than 800 full-time, part-time and seasonal associates who produce a full line of popular iced teas, fruit drinks, milk, frozen dairy treats and a variety of ice cream in its Conestoga, Penn., manufacturing and distribution facility.
“I’d like to thank our skilled and dedicated associates for building a successful brand our customers love,” said Sharp. “We believe it is in the best interest of our associates, the Turkey Hill business, and our shareholders to explore this course of action,” she added.
The company has hired Goldman Sachs & Co. LLC to identify, review and evaluate the options.