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The Dutch company “JDE Peet’s,” which owns the coffee and tea brands “Jacobs,” “L’ Or,” “Tassimo,” “Douwe Egberts,” Pickwick,” and “Senseo,” will stop selling them in Russia at the end of 2023 and will leave only local brands, according to the company’s financial report for the first half of 2023.
“From the very beginning of the conflict, JDE Peet’s sought to ensure that its business in Russia operated as independently as possible. Brand localization for the Russian brand caused Jacobs a loss of 185 million euros in the first half of 2023,” the document said.
Fabien Simon, CEO of JDE, whose words are quoted in the report, stated that in the first half of 2023, the company will leave only local brands in Russia.