Turkey Hill, the private-equity-backed, US ice-cream supplier, has snapped up a factory from US peer Yarnell Ice Cream.
Financial terms were not disclosed. The deal for the site in Searcy, Arkansas, gives Turkey Hill another production facility, adding to the plant it has in Conestoga, Pennsylvania.
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The transaction will also see Turkey Hill manufacture ice cream sold under the Yarnell’s brand. The brand will still be held by Schulze & Burch Biscuit Company, which owns Yarnell Ice Cream.
Turkey Hill CEO Tim Hopkins, who took the role last summer after joining from US ice cream and dessert maker PLM Operations, said: “The addition of this facility in Arkansas highlights the company’s commitment to geographic expansion. Over the last year, Turkey Hill has experienced strong and growing consumer demand nationwide, and the strategic location of this facility will enable us to serve consumers across the United States for years to come.”
An affiliate of private-equity firm Peak Rock Capital acquired Turkey Hill from US retail giant Kroger last year for an undisclosed sum.
Schulze & Burch Biscuit Company, producer of snacks products such as toaster pastries and granola bars, snapped up Yarnell Ice Cream, also known as Yarnell’s, in 2012. Searcy-based Yarnell’s reportedly closed a year earlier due to declining sales.
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By GlobalData
