Kroger officially sells Turkey Hill

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Kroger officially sells Turkey Hill

04/29/2019
Kroger has completed the sale of its Turkey Hill business to an affiliate of Peak Rock Capital.

Cincinnati-based The Kroger Co. has officially completed the sale of its Turkey Hill business to an affiliate of Peak Rock Capital.

The announcement comes about a month after the company divulged its sale agreement with the affiliated company.

According to the sale agreement, the Peak Rock Capital affiliate will continue to operate Turkey Hill out of its Conestoga, Pa., facility, retaining the nearly 800 full-time, part-time and seasonal associates who work there and manufacturing products under the Turkey Hill brand.

Turkey Hill manufactures a full line of iced teas, fruit drinks, milk, frozen dairy novelties and a range of ice cream products. Kroger revealed last August that it planned to explore strategic options for the business, including a potential sale. In April 2018, the company sold 762 convenience stores, including 260 operated under the Turkey Hill banner, to UK gasoline and convenience retailer EG Group for $2.15 billion.

“We believe this is the right step to ensure the Turkey Hill business can meet its full potential and continue to grow its successful ice cream and beverage brands,” noted Erin Sharp, group vice president for Kroger Manufacturing.