Unilever has completed the sale of its Russian subsidiary to the Arnest Group, a Russian manufacturer of perfume, cosmetics, and household products.
Hein Schumacher, CEO of Unilever, commented,
“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.”
With this sale, Unilever removed its presence from Russia, as it included Unilever’s four factories in Russia and its Belarus business.
Financial terms of the transaction were not disclosed.
Hein Schumacher, CEO of Unilever, commented,
“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.”
With this sale, Unilever removed its presence from Russia, as it included Unilever’s four factories in Russia and its Belarus business.
Financial terms of the transaction were not disclosed.
Read Next
Unilever Considers Selling Skin Care Brands
Unilever is Moving Its U.S. Headquarters to Hoboken
A Guide to All the Mergers & Acquisitions in the Beauty Industry in 2024
