Unilever has sold its Russian business to the local Arnest Group after facing pressure from campaigners accusing the company of supporting Russia’s war in Ukraine by remaining in the country. Arnest, a manufacturer of cosmetics and household goods, will acquire four Unilever factories, including its operations in Belarus. Unilever had stopped imports, exports, and media spending in Russia since March 2022 but continued to produce essential goods, drawing criticism for paying Russian taxes. Activists urged Unilever to donate its Russian profits to Ukraine. The deal is potentially worth over €500m.
bobloblawbird on
Great, now do Leroy Merlin, Philip Morris, PepsiCo, Auchan etc.
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Summary:
Unilever has sold its Russian business to the local Arnest Group after facing pressure from campaigners accusing the company of supporting Russia’s war in Ukraine by remaining in the country. Arnest, a manufacturer of cosmetics and household goods, will acquire four Unilever factories, including its operations in Belarus. Unilever had stopped imports, exports, and media spending in Russia since March 2022 but continued to produce essential goods, drawing criticism for paying Russian taxes. Activists urged Unilever to donate its Russian profits to Ukraine. The deal is potentially worth over €500m.
Great, now do Leroy Merlin, Philip Morris, PepsiCo, Auchan etc.
Another brick out the wall.