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JDE Peet’s has sold its tea business in Turkey to Efor Holding for an undisclosed sum.

The business generated approximately €60 million in annual revenue but made a negative contribution to adjusted EBIT.

The company has also decided to discontinue the planned rollout of its L’or Barista coffee machines in the US. Management of the L’OR capsules business in the US will be transferred to Peet’s, its American coffee brand, "to better capture the significant potential of the US coffee market," said JDE Peet's.

Both moves are part of JDE Peet’s ongoing strategic review aimed at simplifying its operating model and improving resource allocation. The company said further updates on its transformation plans will be shared at its Capital Markets Day on 1 July 2025.

In a trading update, JDE Peet’s reported that its financial performance in the first quarter of 2025 was in line with expectations. While European volumes were affected in the early part of the year, a rebound began in March. Green coffee prices have risen 28% compared to the second half of 2024, prompting the company to consider further pricing actions.

The company also announced the proposed appointment of Rob de Groot as a non-executive member of its board of directors. The nomination will be subject to shareholder approval at the Annual General Meeting on 19 June 2025.