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Sells business and four factories to Arnest Group, a Russian perfume, cosmetics and household products company.
October 10, 2024
By: Christine Esposito
Unilever has completed the sale of its Russian subsidiary to Arnest Group, a Russian manufacturer of perfume, cosmetics and household products. The sale includes all of Unilever’s business in Russia and its four factories in the country. Unilever’s business in Belarus was included in the transaction.
“Over the past year, we have been carefully preparing the Unilever Russia business for a potential sale. This work has been very complex, and has involved separating IT platforms and supply chains, as well as migrating brands to Cyrillic,” said Hein Schumacher, CEO of Unilever.
Arnest, initially founded in the 1970s as a chemicals company, has been a contract manufacturer of perfumes, cosmetics and household chemicals since 2000. It contends it is the largest manufacturer of aerosol products in Western Europe.
Terms of the deal were not disclosed.
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