On Friday, the 25th of August, Heineken announced that it has completed its withdrawal from the Russian market, more than a year after it first announced its withdrawal following Russia’s invasion of Ukraine, reports Politico.
The Dutch brewing company will sell its Russian operations to the Arnest Group
for €1, incurring a €300 million cost.
The transfer includes seven Russian breweries to the Russian Packaging Group, assuring jobs for 1 800 Heineken employees for three years.
CEO Dolf van den Brink noted challenges in exiting Russia but called the deal responsible.
Heineken previously announced plans to leave Russia in March 2022 due to Putin’s Ukraine invasion. Delays were attributed to unexpected developments.
The Amstel brand will be discontinued in Russia in six months, with a three-year regional brand license for business continuity. No support, revenue, royalties, or payments from Russia are involved.
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