Kroger, the US supermarket chain, has announced it has divested its Turkey Hill division to an affiliate of investment fund Peak Rock Capital for an undisclosed sum.
Turkey Hill produces iced teas, fruit drinks, milk, frozen dairy desserts and a variety of ice cream products at adedicated manufacturing and distribution facility. As part of the sale agreement, the Peak Rock Capital affiliate will continue to operate the Turkey Hill business out of its existing Conestoga, PA facility, Kroger added.
Commenting on the deal, Erin Sharp, group vice president for Kroger Manufacturing, said: “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. Throughout this process, we were extremely impressed with Peak Rock’s professionalism and vision for the future of the Turkey Hill business. We look forward to working with them to ensure a smooth and successful transition for all parties”.