Market Overview

Kroger Exploring Strategic Options for the Turkey Hill Business

Share:

Kroger Exploring Strategic Options for the Turkey Hill Business

PR Newswire

CINCINNATI, Aug. 7, 2018 /PRNewswire/ -- The Kroger Co. (NYSE:KR) today announced that the company is exploring strategic alternatives for its Turkey Hill business, including a potential sale.

The Kroger Co. Logo (PRNewsFoto/The Kroger Co.) (PRNewsFoto/The Kroger Co.)

"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."

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 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. LLC to identify, review and evaluate the options.

At The Kroger Co. (NYSE:KR), we are dedicated to our Purpose: to Feed the Human Spirit™. We are nearly half a million associates who serve nine million customers daily through a seamless digital shopping experience and 2,800 retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom and investor relations site.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/kroger-exploring-strategic-options-for-the-turkey-hill-business-300693224.html

SOURCE The Kroger Co.

View Comments and Join the Discussion!