Unilever has completed the sale of its Russian business, including four factories and operations in Belarus, to local firm Arnest Group for an undisclosed amount.
The move follows criticism of Unilever’s continued presence in Russia after the 2022 invasion of Ukraine, despite halting imports and exports early in the conflict. CEO Hein Schumacher, in his first year, has led a major restructuring, which includes spinning off the ice cream division, laying off up to 7,500 employees, and focusing on 30 core brands to address the company’s underperformance in recent years. The terms of the deal remain confidential.
Read More: https://www.cnn.com/2024/10/10/business/unilever-sells-its-business-in-russia
