Notable news: Heineken sells its Russian branch for one euro
Many brands preceded Heineken, but eighteen months after promising to leave Russia, they are putting words into action: Heineken has left the building. They faced heavy criticism for still selling their products in Russia because of the war in Ukraine, but now they are getting rid of their business for next to nothing. Literally: they sold it for one euro.
And for that one euro, they sold seven breweries, employing around 1,800 people, to the Russian Arnest Group (the largest Russian manufacturer of cosmetics, household goods and metal packaging, including cans—handy for Heineken cans, then).
Heineken leaves Russia: longer than expected
According to Dolf van den Brink, who works for Heineken, this transaction took longer than they had initially hoped—but they did want to wrap it up properly, and this way they would be assured that all employees still had a job despite the sale. The deal means a loss of around 300 million euros for Heineken. But you don’t need to feel sorry for them; revenue from Russia accounts for only four percent of their total revenue, so this loss will have barely any impact, if any at all.
Amstel says it will also leave Russia within six months, as will the world’s largest brewer, Anheuser-Busch InBev, whose headquarters are in Belgium.
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