The British holding did not want to leave the well-developed Russian market, but given in, given the state of the business.
Consumer and home goods holding Unilever, which arrived in Russia in 1991, waited for the decision of the Russian government commission to exit the Russian market. This was reported by the Russian service The Bell.
The assets (four large production sites and brands) are worth 35-40 billion rubles, which is half of last year’s estimate for the company itself. A buyer has been found for the assets, but was not disclosed.
Unilever did not want to leave the well-developed Russian market, but relented due to the state of the business, growing geopolitical tensions and pressure on the company.
In the latest ranking of Forbes, Unilever is in the fourth ten foreign companies in Russia by revenue (62 billion rubles). Over the year, it fell by a quarter and reached no more than 1% of the global business.
We remind you that according to the Swedish Royal Household Suppliers Association, there are currently 128 suppliers for the royal family. However, this list still contains brands owned by companies that continue to operate in Russia to one degree or another.
In particular, among the brands associated with ongoing operations in Russia are the bread manufacturer Wasabröd, owned by the Italian Barilla, and the producers of Slotts and Winborgs sauces, owned by the British Unilever.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.