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.
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Maybe allowing 3000 of your workers in Orcistan to be conscripted last summer had consequences after all.
For those out of the loop, Unilever agreed to permit Moscow to concscript Unilever employees last July. A lot of those conscripts probably became cargo 200s or 300s somewhere around Avdiivka or Marinka based on what fronts were hottest in later 2023.
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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.
More on this subject from other reputable sources:
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– Financial Times (A-): [Unilever sells Russian business for €520mn](https://www.ft.com/content/69253363-c4e1-4c3f-9980-a14b08752776)
– Bloomberg (B): [Unilever (ULVR) Exits Russia With Sale of Business to Arnest Group](https://www.bloomberg.com/news/articles/2024-10-10/unilever-exits-russia-with-sale-of-business-to-arnest-group)
– Kyiv Independent (B): [Unilever concludes sale of Russian, Belarusian business to local firm](https://kyivindependent.com/unilever-concludes-sale-of-russian-belarusian-business-to-local-firm/)
– Kyiv Post (C-): [Consumer Goods Giant Unilever Finally Exits Russia](https://www.kyivpost.com/post/40283)
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Maybe allowing 3000 of your workers in Orcistan to be conscripted last summer had consequences after all.
For those out of the loop, Unilever agreed to permit Moscow to concscript Unilever employees last July. A lot of those conscripts probably became cargo 200s or 300s somewhere around Avdiivka or Marinka based on what fronts were hottest in later 2023.
Took them long enough
Now do steam.