UK | Unilever has completed the sale of its Russian subsidiary.
Unilever has completed the sale of its subsidiary in Russia to Arnest Group, a Russian manufacturer of perfume, cosmetics, and household products.
"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," said Hein Schumacher, CEO of Unilever, on the sale of Unilever Russia.
"Over the past year, we have been carefully preparing the Russian Unilever 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."
The completion of the sale has ended Unilever Russia’s presence in the country. The terms of the deal have not been disclosed.
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