JDE Peet’s to combine Out-of-Home and CPG Europe segments
JDE Peet’s, the world’s leading pure-play coffee and tea company by revenue, yesterday announced its intention to combine its Out-Of-Home and CPG Europe divisions, into one European segment under the leadership of Juan Amat, currently president, CPG Europe.
This proposed organisational change will enable the European markets to apply a true omnichannel approach, a model the company successfully applies in all its other markets. Additionally, it will allow the company to leverage its brands more effectively and reduce complexity.
Commenting on the announcement, Fabien Simon, CEO of JDE Peet’s, said, “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.”
If these proposed changes are effectuated, JDE Peet’s will align its segment reporting with the new organisational model. The reporting of the other segments and the total company is not subject to change. The proposed changes described above are subject to information and/or consultation as applicable regulations require.