Unilever sells Russian business after pressure from campaigners:
Dove maker’s deal with local manufacturer Arnest Group includes four factories
theguardian.com/business/2024/oct/10/unilever-sells-russian-business-after-pressure-from-campaigners
Photo: theguardian.com · view article
Unilever Exits Russia Amid Rising Campaign PressureUnilever transfers its Russian unit with 4 factories to Arnest Group, ending operations after two years of scrutiny and tax controversy.
Key FactsOct 10, 2024 · Reading time: ~45 sec.
Summary created with AI assistance · Source: theguardian.com
Summary created with AI assistance · Source: theguardian.com
- Unilever sold its Russian subsidiary to local manufacturer Arnest Group, including four factories and Belarus interests.
- The Russian business employs about 3,000 people and holds local rights to brands such as Dove, Knorr, and Axe.
- Following Russia's 2022 invasion of Ukraine, Unilever halted imports, exports, advertising, and capital flows into the country.
- The deal, potentially worth over €500 million, finalizes Unilever’s exit and ends its presence in Russia.
It’s about time Unilever chose to stand on the right side of history, but let’s not forget it took them more than two years – and millions in Russian taxes paid into Putin’s war machine.— Valeriia Voshchevska of the Ukraine Solidarity Project (USP) commented on Unilever's decision to sell its Russian business.
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