Jerónimo Martins is a Portugal-based food retail company focused on the production, distribution, and sale of food and other consumer goods products. The company is the largest food distribution group in both Portugal and Poland. Jerónimo Martins’ activities are divided into three business segments: Food Distribution, Manufacturing and Marketing, and Representations and Restaurant Services.
Jerónimo Martins believes in promoting good health through food, respecting the environment, sourcing responsibly, and supporting surrounding communities. The company recently reformulated 93 items to place a greater emphasis on nutritional value. As a result, it removed over 298 tons of sugar, 54 tons of fat, and 74 tons of salt from its private brand products. Jerónimo Martins has also implemented numerous initiatives aimed at creating sustainable diets. For example, the company has committed to sourcing at least 80% of food products from local suppliers, and recent data show that 84% and 93% of the company’s products were sourced locally in Portugal and Poland, respectively. The company also carries out awareness campaigns promoting consumer preferences for buying locally sourced products. In addition, Jerónimo Martins has made a “Zero Net Deforestation” commitment to be fulfilled by 2020. The company respects freedom of association and collective bargaining, as well as union activity.
Jerónimo Martins operates over 2500 stores, however the company only has 13 ‘eco-stores’. Eco-stores include ten standard measures to reduce water, energy consumption and to manage waste. Additionally, only a limited number of the company’s products have sustainability certifications.
Industry: Consumer Staples
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.