Coffee and tea company JDE Peet’s has announced that it plans to combine its out-of-home and CPG Europe units into one European segment.
The new segment will be lead by Juan Amat, who currently serves as president of the company's CPG Europe unit.
The proposed organisational change will enable the European markets to apply an omnichannel approach – a model the company has implemented in all other markets.
Moreover, it will also allow the company to leverage its brands more effectively and reduce complexity.
'A Dynamic Environment'
Fabien Simon, CEO of JDE Peet’s commented, "Over the last couple of years, we have successfully implemented various initiatives that have strengthened the foundations and improved the performance of our out-of-home business.
"However, we operate in a dynamic environment, and how our customers and consumers engage with us, buy our products, and use our services continues to structurally evolve. Combining our out-of-home and CPG Europe segments will allow us to better leverage our brand power and unlock value.”
Upon implementation of the proposed changes, JDE Peet’s will align its segment reporting with the new organisational model.
The reporting of the other segments and the entire company is not subject to change, the company noted.
The proposed changes are subject to information and/or consultation as applicable regulations require, it added.
JDE Peet’s reported year-on-year sales growth of 16.4% to €8.2 billion in its financial year 2022.
Excluding a positive effect of 4.7% related to foreign exchange and 0.3% related to scope and other changes, total sales increased by 11.3% on an organic basis.
© 2023 European Supermarket Magazine – your source for the latest A-brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.