Consumer goods giant Unilever withdraws completely from Russia

The British company Unilever, which produces household chemicals and food products, has announced its exit from the Russian market.

Source: Unilever CEO Hein Schumacher

Details: "Unilever has today completed the sale of its Russian subsidiary to Arnest Group, a Russian manufacturer of perfume, cosmetics, and household products," Schumacher stated.

The company's assets in Russia include well-known brands such as Lipton, Knorr, Dove, Axe (Lynx) and Rexona (Sure/Degree).

The sale covers Unilever's entire Russian business and four factories, as well as its operations in Belarus.

"Over the past year, we have been carefully preparing the Unilever Russia business for a potential sale. This work has been very complex, and has involved separating IT platforms and supply chains, as well as migrating brands to Cyrillic. The completion of the sale ends Unilever Russia’s presence in the country," Schumacher said.

Background: Unilever, which entered the Russian market in 1991, waited for a Russian government commission to approve its exit from the market.

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