McDonald’s Invests $6.5 Million in Sustainable Guatemala Coffee
McDonald’s Invests $6.5 Million in Sustainable Guatemala Coffee
By Marvin G. Perez - Mar 4, 2013 12:00 PM CT.
McDonald’s Corp. (MCD), the world’s largest restaurant chain, will invest $6.5 million over five years to help about 13,000 coffee growers in Guatemala produce more high-grade beans from sustainable farms as demand grows.
The investment will help secure supplies of arabica beans, which the company uses in a premium-roast coffee business that has doubled in sales since 2006, Oak Brook, Illinois-based McDonald’s said today in an e-mailed statement. Farmers will be trained on certified growing methods that boost yields and incomes while preserving land and the environment. Guatemala is one of four McDonald’s suppliers in Central America.
Hot and cold coffee represents about 7 percent of U.S. sales, Sara Senatore, a senior restaurant analyst with Sanford C. Bernstein & Co. in New York, said in an e-mail. The company, which reported U.S. revenue of $8.814 billion last year, switched to a proprietary blend of arabica beans in 2006 and has emerged as a competitor to Starbucks Corp. (SBUX) and Dunkin’ Brands Group Inc. (DNKN)
“Investing in both certification and sustainable agriculture training addresses the immediate need to assist farmers today, expands capacity for greater sustainable coffee production in the future and helps assure our customers we will continue to provide the taste profile they have grown to love and expect from McDonald’s,” Susan Forsell, the vice president of sustainability, said in the statement.
More:
http://www.bloomberg.com/news/2013-03-04/mcdonald-s-invests-6-5-million-in-sustainable-guatemala-coffee.html
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