Kroger has sold its Turkey Hill brand, which comprises a processing plant and a product line, to a private equity firm.
Peak Rock Capital will take over the 800-employee plant in Conestoga, Penn., which makes the Turkey Hill line of ice cream, milk and beverages. Terms of the deal were not disclosed. Kroger sold its Turkey Hill chain of convenience stores last year to a British firm for $2.15 billion.
• Kroger bets on shoppers’ desire to eat healthier
Kroger, the country’s largest pure grocer, had announced its intention to shop Turkey Hill last summer. It has 38 processing plants dedicated to its store brands.
“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,” Erin Sharp, group vice president for Kroger Manufacturing, said in a statement. “Throughout this process, we were extremely impressed with Peak Rock's professionalism and vision for the future of the Turkey Hill business.”
