Heineken has successfully concluded its exit from Russia, finalizing the sale of its Russian assets to the Arnest Group. This move marks the completion of Heineken’s withdrawal from the country after the invasion of Ukraine by Moscow. The sale of its Russian business, completed for approximately $1, has resulted in a projected loss of $324 million for Heineken. The decision to pull out of Russia was made in March 2022 in response to Western sanctions imposed on Russia due to the conflict in Ukraine.
Heineken CEO and Chairman, Dolf van den Brink, expressed his satisfaction with the completion of the transaction, stating, “We have now completed our exit from Russia. Recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia. While it took longer than expected, this transaction ensures the well-being of our employees and allows us to responsibly leave the country.”
All remaining assets, including seven breweries in Russia, will be transferred to the Arnest Group. Additionally, the Arnest Group has assumed responsibility for the 1,800 former Heineken employees in Russia, providing them with employment guarantees for the next three years. Heineken’s departure from Russia aligns with the actions of over 300 other companies, with major brands like McDonald’s, Starbucks, and Coca-Cola also scaling back their operations in the country.
As one of the world’s largest international brewers, Heineken operates in more than 70 countries and employs over 90,000 individuals. Its breweries, cider plants, and production facilities contribute to its global presence and reputation in the industry.
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