Friday 19 July 2024
  • La Cimbali

GLOBAL NEWS – Green Mountain moves coffee procurement to Switzerland

Must read

Demuslab

Keurig Green Mountain is moving most of its U.S. is sending most of its U.S. coffee bean procurement operations from Vermont to Lausanne, Switzerland, after forming a new corporate entity called Keurig Trading GmbH there this past fall.

The move follows decisions by several rivals who have done the same thing.

“The core of our green bean coffee procurement for our global manufacturing operations will take place in Switzerland,” said Sandy Yusen, a Keurig spokeswoman.

“Switzerland has become a primary, established hub of coffee trading – where significant business is taking place,” she added.

With favourable tax laws and light regulation, Switzerland is home to some of a world’s biggest commodity merchants.

Keurig Green Mountain isn’t the first U.S. coffee giant to go overseas to the commodity market hub. Kraft spin-off Mondelez International also has buying operations in Switzerland, as well as Israel-based Strauss Coffee and Geneva-based United Coffee. Starbucks has been there for over 10 years.

The spokeswoman would not comment on whether low taxes were a factor in the decision to move to Switzerland.

Green Mountain became a largest coffee tradesman by value in a United States in 2013, heading JM Smucker Co, Starbucks and Kraft, according to information from market research organisation Euromonitor, reports Reuters.

CIMBALI
  • Franke Mytico
  • TME - Cialdy Evo

Latest article