ORRVILLE, OHIO – The J.M. Smucker Co. and JDE Peet’s, Amsterdam, The Netherlands, are forming a partnership in which Peet’s will support Smucker’s Away From Home liquid coffee business. The Smucker’s Away From Home business serves business, institutional and foodservice customers.
As part of the partnership, Peet’s will provide product development, production and foodservice equipment innovation, according to the company.
“We are excited to partner with The J.M. Smucker Co. to offer liquid coffee products to their North American customers,” said Satya Menard, global president, out-of-home for JDE Peet's. “Our proprietary liquid coffee system efficiently delivers large quantities of premium coffee in a hygienic manner, making it the perfect solution for hospitals, universities, hotels, conference centers and many other out-of-home customers.”
In conjunction with the partnership announcement, Smucker said it plans to close and pursue the sale of its Suffolk, Va., coffee production plant by the spring of 2022. The plant serves the company’s liquid coffee business within Smucker’s International and Away From Home business unit.
For the first nine months of fiscal 2021, ended Jan. 31, sales in Smucker’s International and Away From Home business unit fell to $705 million from $788 million during the same period of the year prior. The business has been impacted by COVID-19 restrictions in the foodservice and institutional markets.