TERACT becomes a “société à mission”

PRESS RELEASE                                                                                                       

Paris, 15 December 2023

TERACT becomes

a “société à mission”  

In line with the commitments it reiterated during the publication of its annual results on 19 October, TERACT (Euronext Paris: TRACT, ISIN: FR001400BMH7) submitted a proposal to its Annual General Meeting today, which was ratified, for a change in its status to a “société à mission” (purpose-driven company) with its “raison d’être” (purpose) being to “help make the benefits of nature accessible to all”. 

With each day bringing further evidence of the growing need to radically overhaul human production and consumption methods, TERACT had already adopted a “raison d’être” in alignment with its goals under the PACTE Law with the aim of reshaping the future of distribution in its business sectors: garden centre/pet retail and sustainable food retail. For the company, its employees and all of its stakeholders, this represents a strong commitment to build, distribute and make as broadly accessible as possible in all regions an offering of responsible products and services and a powerful and sustainable connection with nature.   

The adoption today of the status of a “société à mission” is a strong statement by the company and by its shareholders, which from now on gives it the resources to concretely deploy the three lines of its CSR strategy and the related eight commitments and objectives it seeks to achieve by 2030. 

These three lines involve building and ensuring access to an offering of products and services that are healthy and responsible, carrying out activities that promote well-being for people and environmental sustainability and mobilising its employees and stakeholders in the regions with the aim of achieving the Group's societal ambition and meeting new consumption expectations. 

The main objectives and commitments arising from this over the coming years are as follows^[1]: 

        -          Between now and 2025: 

o    50% of managers to be hired through internal promotion (14.7% in 2022-2023) o             50% less workplace accidents compared with 2020

o    90% of exclusive own-brand plant-based products of French origin (excluding greenhouse) (83% in 2022-2023) and 50% of plant products from sector commitments

(43% in 2022-2023) o             80% of exclusive own-brands with a positive impact (54.4% in 2022-2023)

PRESS RELEASE                                                                                                       

        -        By 2030: 

o    10% less water consumption compared with 2022-2023

o    100% of stores accredited an animal welfare label (35% in 2022-2023) o            70% of waste sorted and recycled (59% in 2022-2023)

o    46% reduction in greenhouse gas emissions versus 2019-2020 (scopes 1 and 2) (47.6% reduction in 2022-2023; the target has already been achieved for the Garden Centre/Pet Retail scope thanks to the effectiveness of TERACT’s multi-annual energy savings and efficiency plan).

A “Comité de mission” (Mission Committee), the members of which will be appointed in early 2024, is being set up to ensure these objectives are followed up and to monitor the progress of the company’s various projects. An independent third-party body will also be commissioned to audit the implementation of these actions and guarantee the status as a “société à mission”.

Moez-Alexandre Zouari, Chief Executive Officer of TERACT, stated: “I am proud of our decision to adopt the status of a “société à mission” for TERACT, which has been approved by our shareholders. It represents a major step forward in helping us to put our projects into action, which will now be all the more productive, meaningful and of value. It serves to underscore TERACT’s corporate purpose (raison d’être) of “ensuring to make the benefits of nature accessible to all” and thus commits it to participating actively and concretely in the transformation of specialised and food retail to a model that is more mindful of people and nature and incorporates objectives to help sustainably preserve our resources.”  

About TERACT:  

TERACT is a major player in responsible distribution in the growing retail markets of gardening, pet and food distribution. Our ambition is to create a unique network of brands combining tradition and modernity, agricultural know-how and innovation, in-store and digital experiences. TERACT addresses the demand for a new generation of consumption which is synonymous with quality, sustainability and traceability. TERACT regroups the Garden Centre/Pet Retail brands Jardiland, Gamm vert, Delbard, Jardineries du Terroir and Noa as well as the Food Retail brands Boulangerie Louise, Grand Marché La Marnière, Frais d’Ici and Bio&Co.

TERACT's majority shareholder is InVivo, one of the leading agricultural and agri-food groups in Europe.

TERACT is listed on the professional compartment of Euronext Paris (ticker code: TRACT, ISIN: FR001400BMH7). More information on www.teract.com.  

CONTACTS:

Investors: investors@teract.com

Media: media@teract.com

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