August 7, 2018 / 4:03 PM / a year ago

Kroger explores sale of Turkey Hill Dairy business

(Reuters) - U.S. supermarket chain Kroger Co (KR.N) said on Tuesday it is exploring strategic alternatives for its Turkey Hill Dairy business, including a sale.

Turkey Hill, which has nearly 800 workers, produces milk, ice creams, frozen dairy treats, iced teas and fruit drinks.

The unit was not part of the sale of Kroger’s convenience stores business to British gas station operator EG Group for $2.15 billion earlier this year.

The sale of the convenience stores, which had $4 billion in annual revenue, was part of Cincinnati-based Kroger’s “Re-stock” plan that aimed to revamp its nearly 2,800 brick-and-mortar supermarkets, cut prices and boost in-store technology.

Turkey Hill distributes frozen dairy desserts and drinks in 49 U.S. states, excluding Hawaii, and owns a manufacturing and distribution facility in Conestoga, Pennsylvania.

The company said it had hired Goldman Sachs & Co LLC to review and evaluate the options for Turkey Hill, which has been owned by Kroger since 1985.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Maju Samuel

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