Kroger Discusses Selling Off Turkey Hill Brand
Taking over the plant more than 30 years ago, Turkey Hill’s parent company, Kroger, is now considering selling off its popular iced tea and ice cream company.
This news comes as a result to Kroger slimming its nongrocery business as it makes investments to compete with Amazon and Walmart, according to CNBC.
Hiring the investment bank Goldman Sachs & Co. to help it explore its options, Kroger has not announced when its decision will be made but said it will “do its due diligence” to determine what’s right for the 800 employees located in Conestoga, Penn., its customers and the business.
“Turkey Hill’s successful and recognizable ice cream and beverage products have the potential for greater growth outside of our company,” said Erin Sharp, group vice president for Kroger Manufacturing. “We want to ensure Turkey Hill has every opportunity to meet its full potential.”
Announcing the news on Tuesday, Turkey Hill commented on their Facebook page, “This is an opportunity for our company to continue to expand and grow into a national brand. Things are great on “The Hill!”’
This move follows Kroger’s $2.15 billion sale of Turkey Hill convenience stores, according to CNBC.
Fri, 08/10/2018 – 15:49
The popular ice cream and iced tea brand, Turkey Hill, may soon be looking for a new business partner.
Source: Dairy Herd