Strategy & Value creation

Our purpose, mission, vision and ambition

As a global player in the potato processing industry, we consider it our responsibility to have an active and leading role in creating a better future. The potato is key to everything we do. This has led us to formulate ‘Human well-being through potatoes’ as our overarching company purpose.

Our mission

is to serve and inspire customers and consumers with inventive potato products and solutions they love.

Our vision

is that we believe in ‘Seeing possibilities in potatoes’, possibilities to offer enjoyment of potatoes to everyone, everywhere, anytime! And to operate in a responsible and sustainable way, now and for generations to come’.

Our ambition

as Lamb Weston / Meijer is threefold. First, we aspire to be the frozen potato category leader in EMEA, Brazil and Russia, and, together with Lamb Weston Inc. (USA), to be the world’s number one frozen potato company. Second, we want to be the industry leader in sustainability. And third, we want to be the employer of choice.

Our company strategy (Triple Pillar Strategy, TPS) and organisational design are centred around the customer. Our customer value proposition sits at the heart of our business model; We strive for long lasting partnerships with our customers and offer them consistent quality, reliable services and innovative products and solutions - giving them ‘peace of mind’. Our values express who we are and what unites us as a company:  we create shared value, we count on each other, and we energise.

Sustainability and Creating Shared Value

We aim to create shared value in everything we do. For us, sustainability is a prerequisite to create long-term shared value. To achieve long-term business success, we believe that we need to have a positive impact on our main stakeholders: our shareholders, customers, consumers, growers, other suppliers, society and, last but not least, our employees.

We also believe in partnerships. We collaborate with third parties to (co)develop solutions to create a more sustainable, effective value chain: from field to fork. This helps us to develop a better range of solutions in a faster manner, building upon different areas of expertise.

We believe that companies can play a major role in sustainable development, and we have a clear sustainability ambition: to be the thought industry leader on sustainable development by 2020. To achieve this, we developed a comprehensive sustainability strategy in 2011, which we called then the Sustainable Six.

In 2018, we added a seventh focus area, transforming this into the Sustainable Seven.

The Sustainable Seven

The Sustainable Seven are the areas we focus on in our sustainability program. They are the aspects most relevant to our company and industry, where we believe we can make the greatest impact on creating more sustainable operations.

From these seven, we have identified four – Water, Energy & Emissions, Potato & Waste, and Sustainable Agriculture – where we want to excel and strive for sustainability leadership within our industry. These enable us to create shared value for our stakeholders and grow our business, while substantially improving our resource efficiency¹.

Water, Energy & Emissions, and Potato & Waste have real impact on our direct business operations, and allow us to make the most positive impact as a company. Sustainable Agriculture, which we added to the Sustainable Seven in 2018, is key as we recognise its major environmental impact on the potato supply chain. To secure our long-term supply of potatoes, we believe it is critical to proactively work with our farmers to grow more potatoes with less inputs, to help feed the world sustainably.

The other three – Employees, Food Safety & Quality, and Nutrition & Health – express our relevance to our customers and consumers, and our position in society as a responsible company. They also encompass our focus on protecting our future, which is our license to operate.

When implementing our sustainability programme, we apply two guiding principles which are valid to the Sustainable Seven’s focus areas and goals: to be transparent and to look at our total supply chain. This means we are open and honest and share our progress versus our goals, our main challenges and learnings. And our scope does not end at the borders of our owned premises; we apply a field-to-fork approach and aim to make our total supply and value chain ever-more sustainable.

[1] As a result, we implicitly support specific UN 2030 Sustainable Development Goals.

UN Sustainable Development Goals

In 2017 we also analysed how our Sustainable Seven focus areas relate to the 2030 UN Sustainable Development Goals (SDGs). We identified to which SDGs we already contribute through our current 2020 sustainability objectives and which SDGs we will focus on when developing our sustainability strategy towards 2030.

The below ‘Sustainable Seven Wheel’ represents the SDGs connected to each of our Sustainable Seven and gives an overview of our current Sustainability Objectives per area.

How we Create Shared Value

In 2018 we took the next step on our journey towards transparency by developing our Value Creation Model. This model illustrates how we use six sources of capital and our business model to create value for all stakeholders in the short, medium and long term.

Additionally, we linked the impact of our business on our stakeholders to those key UN Sustainable Development Goals (SDGs) we actively support via our Sustainable Seven.

In 2019 we will prepare our future sustainability agenda, based on our updated materiality matrix.

We actively support the 2030 UN Sustainable Development Goals and will use them as part of our global compass to develop our future sustainability strategy and 2030 objectives.