2023-08-19 06:33:20
The Dutch company JDE Peet’s will start selling Jacobs coffee under the Monarch brand, sales of Jacobs branded coffee should cease before the end of the year, reported newspaper The Wall Street Journal.
JDE Peet’s is also expected to stop selling Tassimo and Moccona coffee in Russia.
“The company plans to remove its Jacobs trademark, which is sold throughout Europe, from store shelves in Russia by the end of the year. Instead, consumers will see a brand called Monarch.
Fabien Simon, chief executive officer of JDE Peet, told the newspaper why his company is not going to leave the Russian market. Coffee and tea are staples, he said, and JDE Peet’s has 900 employees in Russia who “would be unfairly punished if they left.”
On August 2, Simon also said in a conversation with investors that the company has no plans to leave Russia. He pointed to the risk that assets and intellectual property “will be nationalized by the Russian state or transferred to third parties in Russia.” Simon also noted that JDE Peet’s business in Russia does not violate sanctions, and pointed to the need for such products in the country.
JDE Peet’s was created in 2015 after the merger of the coffee business of Mondelez International and DE Master Blenders 1753 BV The portfolio of brands includes Jacobs, L’OR, Senseo, Tassimo, etc. In 2022, sales of JDE Peet’s increased by 16.4 % to 8.2 billion euros. In Russia, the company has a plant located in the Leningrad region. Its capacity exceeds 35,000 tons of products per year, it produces instant coffee, coffee blends, roasted ground and grain coffee Jacobs Monarch, Jacobs Monarch Millicano, Carte Noire. At the end of 2021, the revenue of Jacobs Dow Egberts Rus increased by 13% to 35.11 billion rubles, net profit amounted to 5.96 billion rubles.
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