Heineken sold the entirety of its Russian operation to the Arnest Group for €1, taking a $325 million loss, according to a company press release.
An announcement on our business in Russia. Read the full press release here: https://t.co/cMlUmh0ZXf pic.twitter.com/DwghGaTw3x
— The HEINEKEN Company (@HEINEKENCompany) August 25, 2023
“We have now completed our exit from Russia. Recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia,” CEO Dolf van den Brink said in a statement.
The Dutch brewer will sell all of its remaining assets, including seven breweries and 1,800 employees, fulfilling a promise it made in March 2022 to pull out of Russia following its invasion of Ukraine.
Heineken faced criticisms for not pulling out earlier, but claimed they wanted to secure jobs for their Russian employees, which they did in…
