In response to war in Ukraine, Heineken sells entire Russian operation for 1 euro

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The brewery expects to have a total loss of €300 million (R$1.58 billion) with the deal. The Arnest Group has assumed responsibility for the 1,800 employees of Heineken in Russia, and has guaranteed that it will keep the employees for the next three years. Heineken beer bottles REUTERS/Daniel Becerril The Dutch beer group Heineken announced this Friday (25) the conclusion of the sale of its operations in Russia to the Arnest Group. The company sold its entire operation for just 1 euro. The announcement of the departure took place on March 28, 2022. At the time, the company said that it was very shocked and saddened to “observe that the war in Ukraine continues and is intensifying”. The conflict in Ukraine has been going on for approximately 1 year and a half. The brewery expects to have a total loss of €300 million (R$1.58 billion) with the deal. It is worth noting that according to the Dutch news agency ANP, the Russian market accounted for less than 2% of Heineken’s worldwide sales when they decided to leave the country. “In response to the continued escalation of the war, Heineken will stop producing, promoting and selling its brand in Russia,” group CEO Dolf van den Brink said in a statement released a month after the war broke out in Ukraine. . The Arnest Group has assumed responsibility for the 1,800 employees of Heineken in Russia, and has guaranteed that it will keep the employees for the next three years. Furthermore, Amstel production will be discontinued within 6 months in Russia. Hundreds of Western companies have closed their stores and offices in Russia since the start of the war. Share on WhatsApp Share on Telegram In a note, Heineken said that: the Arnest Group has an important can packaging business and is the largest Russian manufacturer of cosmetics, household items and metal packaging for the fast-moving consumer goods sector “We have now concluded our departure from Russia. Recent developments demonstrate the significant challenges faced by large industrial companies as they leave Russia. Although it took much longer than we expected, this transaction guarantees the livelihood of our employees and allows us to leave the country responsibly,” said Dolf van den Brink in a statement.

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