FMCG giant Unilever says it has finalised the sale of its Russian subsidiary to Arnest Group, a local manufacturer specialising in cosmetics, perfumes, and household products.
The transaction marks the end of the company’s direct presence in Russia, including the transfer of all operations, its four factories in the country, and its business in neighbouring Belarus.
“Over the past year, we have been carefully preparing the Unilever Russia business for a potential sale,” said Unilever. “This work has been very complex and has involved separating IT platforms and supply chains, as well as migrating brands to Cyrillic.”
Companies worldwide have recently reevaluated their operations in Russia due to a mix of regulatory challenges and changing market dynamics – but motivated by the country’s invasion of Ukraine.
Terms of the sale have not been disclosed.