Kroger mulls options for Turkey Hill
Kroger could be putting its Turkey Hill CPG food business up for sale. The Cincinnati-based company said Tuesday that it was exploring strategic alternatives for the division within Kroger Manufacturing, including a potential sale, retaining Goldman Sachs to review and evaluate options.
Turkey Hill is a producer of a line of popular fruit drinks, iced teas, milk, ice cream and frozen dairy treats based in Conestoga, Pa., that has a staff of 800 full- and part-time associates, as well as seasonal employees.
"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."
Kroger currently owns 38 plants for food manufacturing, including 19 dairies for its own-brand portfolio and Turkey Hill branded products that it sells nationwide.
"I'd like to thank our skilled and dedicated associates for building a successful brand our customers love," Sharp said. "We believe it is in the best interest of our associates, the Turkey Hill business and our shareholders to explore this course of action."
Turkey Hill is a producer of a line of popular fruit drinks, iced teas, milk, ice cream and frozen dairy treats based in Conestoga, Pa., that has a staff of 800 full- and part-time associates, as well as seasonal employees.
"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."
Kroger currently owns 38 plants for food manufacturing, including 19 dairies for its own-brand portfolio and Turkey Hill branded products that it sells nationwide.
"I'd like to thank our skilled and dedicated associates for building a successful brand our customers love," Sharp said. "We believe it is in the best interest of our associates, the Turkey Hill business and our shareholders to explore this course of action."