CINCINNATI, August 7, 2018 — The Kroger Co. (NYSE: KR) today announced that the company is exploring strategic alternatives for its Turkey Hill business, including a potential sale.
"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 brands have the potential to grow even greater outside of our company. We want to ensure Turkey Hill has every opportunity to meet its full potential."
With nearly 800 full-time, part-time and seasonal associates, Turkey Hill produces a full line of popular iced teas, fruit drinks, milk, frozen dairy treats and a variety of ice cream in its large 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 Ms. 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."
Kroger owns 38 food manufacturing plants, including 19 dairies, that produce high quality Our Brands products for Kroger's family of stores and Turkey Hill branded products sold nationwide.
The company has hired Goldman Sachs & Co. to identify, review and evaluate the options.
Media: Kristal Howard, (513) 762-1304; Investors: Rebekah Manis, (513) 762-4969
# # #