Jacobs Douwe Egberts (JDE) (Jacobs Rus, Jacobs dau Egberts Rus)

JACOBS DOUWE EGBERTS (JDE) is an international company that specializes in coffee and tea production. It offers brands such as Jacobs, Tassimo, Moccona, Senseo, L'OR, Douwe Egberts, Kenco, Pilao and Gevalia.

Performance indicators

2023: Losses of €185 million from rebranding in Russia

The Dutch concern JDE Peet's, which produces coffee under the Jacobs brand, will cease to sell products in Russia under international brands. The company reported this on August 2, 2023 as part of the publication of financial statements.

According to JDE Peet's materials, by the end of 2023 the company will leave only local brands on the Russian market. The corresponding rebranding led to a decrease in the estimate of the brand value in the amount of €185 million ($202.8 million) in the first half of the year, according to the report of the coffee and tea producer.

JDE Peet's will stop selling products under international brands in Russia

JDE Peet's downgraded its annual profit target, including due to the uncertainty surrounding such a transition. Shares of the company on the Amsterdam Stock Exchange Euronext fell in price by 1.9%, to €26.82 per share by the close of August 2, 2023.

JDE Peet's CEO Fabien Simon said in a conversation with investors on August 2, 2023 that the company does not plan to completely leave Russia, as it "bears ethical responsibility › to its employees around the world, including more than 900 people working in the Russian Federation.

We risk that our assets and intellectual property can be nationalized by the Russian state or transferred to a third party in Russia, he said, adding that the company's work in the Russian market does not contradict sanctions, as it sells products that Russian consumers need.

By August 2023, the Dutch company owns two production facilities in Russia - in Novosibirsk and in Gorelovo, Leningrad Region. Jacobs Dau Egbest Rus, a Russian subsidiary of JDE Peet's, has been operating in the Gorelovo industrial zone since April 2015. The plant in the village of Peniki, which produced coffee mixes under the brands Jacobs Monarch, Jacobs Monarch Millicano, Carte Noire, is one of the largest in the world.

JDE Peet’s reports half-year results 2023

History

2016: Countries of presence

As of June 2016, JDE was present in over 80 countries worldwide. In 18 countries, the company was ranked 1st or 2nd in the coffee category at that time.

In Russia, JDE is represented by Jacobs Rus LLC. The Jacobs Rus portfolio included the Jacobs, Carte Noire, Tassimo and Maxim brands. The company owns a freeze-dried coffee plant near St. Petersburg, which is one of the largest and most modern production facilities of its type in the world.