Turkey Hill Dairy already is a major player in its industry.
The Manor Township food manufacturer makes the nation’s fourth largest selling brand of ice cream and fifth largest selling brand of iced tea.
But with a bold new owner that sees the potential to generate even more revenue, the dairy is planning to invest “tens of millions of dollars” and fill “dozens of jobs” to get it.
Steps will include “capacity expansion, investments in existing lines to provide the latest technology and manufacturing capabilities, and facility renovations and enhancements,” the dairy said.
Turkey Hill will boost its capacity to produce both ice cream and refrigerated beverages by upgrading existing production lines and installing additional equipment.
“We’ve already begun making investments in the facility,” a company spokesman said. “Some of the projects will begin over the coming months while others are longer term.”
The dairy said the moves are designed to “support recent and continued growth,” noting that its annual revenue has increased for 15 consecutive years.
Looking ahead, the dairy sees growth opportunities in “new product innovations as well as geographic market and distribution expansion,” the spokesman said.
Earlier this year, Turkey Hill announced that it had become a national firm, adding ice cream distribution to the six western-most states. The only state it does not serve is Hawaii.
But its beverages are not sold so widely.
The spokesman declined to be more specific about the amount of new investment, the number of new jobs or the timetable for the spending and hiring.
Turkey Hill has yet to file any expansion plans with the township, said township manager Ryan Strohecker.
However, if Turkey Hill is installing new equipment within existing buildings, the company doesn’t need to get township approval, he said.
Nor has the company reached out to EDC Finance, a Lancaster-based nonprofit that helps local companies tap state loans, grants or tax credits to ease the cost of its new equipment and new jobs.
Turkey Hill was acquired by Peak Rock Capital, a Texas-based private equity firm, from The Kroger Co. in April for $215 million, as LNP previously reported.
At the time, Peak Rock CEO Anthony DiSimone made his game plan clear.
“We believe that Turkey Hill represents an excellent platform for growth through near-term organic initiatives and strategic acquisitions,” he said.
“We will be aggressively pursuing complementary acquisitions to extend the product and brand portfolio,” DiSimone added.
Turkey Hill has been a major player in the local economy for decades.
Founded in 1931, the dairy employs about 800 people at its Conestoga headquarters. It posts annual revenue of $375 million.