08.05.2025 15:52
Of Çay, established 40 years ago in the Of district of Trabzon, is being sold again after a 6-year hiatus. JDE Peet's, the U.S.-based owner of Jacobs coffee, which purchased the company in 2019, announced that it will divest its tea operations in Turkey.
Of Tea, established in 1985 in the Of district of Trabzon, is preparing to be sold again after a 6-year hiatus.
Acquired in 2019 by Jde Peet's, one of the world's leading coffee and tea producers, Of Tea had become the center of the group's tea operations in Turkey.
ENDING TEA OPERATIONS IN TURKEY
However, Jde Peet's announced a surprising decision to end its tea operations in Turkey. It has been reported that the sales process has begun, and discussions with potential buyers interested in the tea unit have started.
NEGATIVELY AFFECTED GENERAL PROFITABILITY RATIOS
Jde Peet's cited the negative impact of the tea unit on the company's overall profitability ratios as the reason for the sale of Of Tea. The statement also mentioned that the sales of L'Or Barista coffee machines in the U.S. market would be halted, and this segment would be restructured under the Peet's brand.
DETAILS TO BE ANNOUNCED ON JULY 1
The company's actions are seen as part of a strategy to streamline operations and increase efficiency. Jde Peet's announced that it would provide more details regarding the decisions made on July 1.