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.
"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.
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SOURCE The Kroger Co.