Unilever Sells Russian Operations Amidst Activist Pressure
Unilever has sold its Russian operations to Arnest Group, a local manufacturer, under pressure from activist groups. The sale marks the end of Unilever's business activities in Russia, following criticism over contributions to the Russian state. Despite efforts to minimize operations, Unilever's taxes in Russia totaled $331 million in 2022.
Unilever, under pressure from organizations such as the Ukraine Solidarity Project, has sold its Russian operations to Arnest Group, a local manufacturer.
Arnest, led by businessman Alexey Sagal, will take control of Unilever Rus's four factories and operations in Belarus, a move projected to potentially surpass €500 million in value.
Despite ceasing imports and marketing in March 2022, Unilever faced ongoing criticism for its continued operations and tax contributions to Russia, which reportedly amounted to $331 million in 2022.
The sale, pending Russian government approval, concludes the Anglo-Dutch company's business in Russia, with activists urging Unilever to donate the proceeds to Ukraine's recovery.
Arnest, led by businessman Alexey Sagal, will take control of Unilever Rus's four factories and operations in Belarus, a move projected to potentially surpass €500 million in value.
Despite ceasing imports and marketing in March 2022, Unilever faced ongoing criticism for its continued operations and tax contributions to Russia, which reportedly amounted to $331 million in 2022.
The sale, pending Russian government approval, concludes the Anglo-Dutch company's business in Russia, with activists urging Unilever to donate the proceeds to Ukraine's recovery.
