Unilever confirms the sale of its Russian activities to Arnest Group

Consumer goods company Unilever has sold its Russian activities to the chemical group Arnest, who had also taken over the beer manufacturing company Heineken’s activities in the country. "The sale includes all of Unilever’s business in Russia and its four factories in the country. Our business in Belarus is also included in the sale,” Unilever announced on Thursday.

Arnest is a manufacturer of perfume, cosmetics, and household products. “The completion of the sale ends Unilever Russia’s presence in the country,” Unilever said. The preparation for the sale was “very complex,” according to the company.

Unilever would not report on the terms of the deal. The British business newspaper Financial Times wrote last month that Unilever would be able to receive 500 million dollars for the Russian parts.

The group was often criticized over the last few years for his presence in Russia. According to Ukraine, the company was helping Russia finance its war due to tax payments. This led to a demonstration at Unilever’s headquarters in London.

Unilever sold locally made food and hygiene products in Russia. The company, known for brands like Dove, Knorr, Magnum, and Rexona, had around 3,000 employees in four factories and a headquarters.

The company had previously stopped all imports, exports, and capital flows to Russia and had also stopped advertising in Russian media.