Heineken announced this Friday that it will withdraw from the Russian market, after having sold its shares to the Arnest group, the largest manufacturer of perfumes and cosmetics in Russia.
“Heineken SA has sold its entire business in Russia to the Arnest group. The sale comes after obtaining the necessary permits and completes the process started by Heineken in March 2022 to withdraw from Russia, incurring an expected cumulative loss of €300 million. “, reports the Dutch company in a statement, quoted by AFP.
On April 19, Heineken formalized the request with the Russian authorities to sell its business in the Russian Federation, without detailing information about the buyer or the conditions of the business.
Following the start of the invasion of Ukraine by the Russian Federation, the company undertook to leave the Russian market and end its presence in that country.
In March, Heineken felt compelled to “apologize” after the controversy generated around its Russian subsidiary, which launched new products in the last year, despite the invasion in Ukraine, and assured that it kept its “promise to leave Russia”. after closing the deal with a new owner “in the first half of 2023.”
The journalistic investigative platform Follow the Money (FTM) reported in February that Heineken continued to invest in the Russian Federation, where it even increased its business, after the departure of brands such as Budweiser and Carlsberg, and even launched 61 new products throughout 2022. , despite his promises to leave the country because of the invasion of Ukraine.
True, he withdrew the Heineken brand from the Russian market, but replaced it with new products, such as the Amstel brand. FTM also denounced that the brewer introduced non-alcoholic beverages to the Russian market after the departure of Coca Cola and Pepsi.
Heineken justified that it did not leave Russia directly, as other companies did, to ensure the “future livelihood” of its approximately 1,800 employees in Russia, who would suffer the consequences of a suspension or sudden cessation of Heineken’s activities.
Heineken was in the Russian Federation for 20 years and this market accounted for 2% of its total sales.
Source: TSF
