It serves millions of customers through its Pingo Doce Supermarkets and Recheio Cash & Carries in Portugal and its Biedronka stores in Poland. Jeronimo Martins, through its partnership with Unilever and Gallo Worldwide, is also the largest manufacturing group of fast moving consumer goods in Portugal. The company places significant emphasis on the local procurement of produce, dairy, meat, and fish. Jeronimo Martins is also working to create new product formulations on many of its household goods to promote a reduction of water, packaging or greenhouse gas emissions generated through transportation; however, the majority of the company’s product reformulations are focused on the elimination of “…unnecessary and superfluous ingredients, replacing artificial ingredients by natural ones and reducing fat content.”
In 2011, Jeronimo Martins demonstrated its commitment to minimizing resource consumption at its retail locations by creating environmental specifications across six areas for all new and remodeled stores. In addition, all of Jeronimo Martins’ manufacturing sites have ISO 14001 certified environmental management systems. The company provides trend data on some of its environmental key performance indicators (including carbon emissions, energy, and water use) and has a group-wide carbon emissions reduction goal, but Portfolio 21 has asked the company to also set more comprehensive and aggressive goals across all key performance indicators on a group-wide level.
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 12/31/12 and may not reflect current opinions or subsequent events.