An affiliate of Peak Rock Capital, Austin, Texas, a middle-market private equity firm, said it completed the previously announced acquisition of Turkey Hill Dairy, a manufacturer and distributor of ice cream and refrigerated drinks, from the Cincinnati-based Kroger Co.
Founded in 1931, Turkey Hill has a diverse customer base, including blue chip grocers, distributors, wholesalers and convenience stores. Headquartered in Conestoga, Pa., and operating out of an SQF Level 3 manufacturing facility, Turkey Hill has built a strong reputation in the industry for its broad product offering, outstanding quality and unmatched customer service, Peak Rock Capital said.
"Turkey Hill represents an exciting opportunity to invest in a premier brand with an established reputation for quality, flavor variety and authenticity within the large and growing ice cream and refrigerated drinks space,” said Robert Pistilli, managing director of Peak Rock Capital. “We are impressed with the accomplishments of the business under the stewardship of Kroger, and look forward to completing a seamless transition of the business to a standalone entity and partnering with Turkey Hill's management team to drive significant growth through continued product innovation."