Unilever Finalizes Sale of Russian Operations to Arnest Group
The sale ends Unilever's presence in Russia after facing criticism for continuing operations post-Ukraine invasion.
- Unilever has sold its Russian subsidiary and Belarus operations to Arnest Group, a local manufacturer, for approximately €520 million.
- The transaction includes four factories in Russia and marks the end of Unilever's business activities in the region.
- The sale follows intense pressure and criticism from campaigners and the Ukrainian government, who labeled Unilever a 'sponsor of war.'
- Unilever's CEO Hein Schumacher, who took charge in 2023, navigated the complex sale process involving the separation of IT platforms and supply chains.
- While Unilever ceased imports and exports to Russia in March 2022, it continued local production, contributing to significant tax payments to the Russian government.
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