The Dutch brewing giant Heineken has sold its Russian assets to Arnest, a company that produces household goods in Russia, including dichlorvos. According to the Russian Forbes, the deal was concluded for a symbolic price of 1 euro, but obliges the buyer to repay the debt of Heineken’s Russian business worth 100 million euros.
Heineken forecasts a loss of €300 million from the deal. The Heineken brand will disappear from the Russian market, and the process of changing the name may take several months, the source said. In the future, production of beer under the Amstel brand will be discontinued, although the buyer will retain some licenses for regional brands for the next three years.
Heineken has confirmed that it will not receive any profits or dividends from the Russian market after the sale. However, the jobs of brewery workers will be preserved.
Heineken CEO Dolph van den Brink said: “Our goal was to ensure the well-being of our employees and to exit the Russian market in a responsible manner.”
Arnest Group is the largest manufacturer of perfumery, cosmetics and household products in aerosol packaging in Russia. According to SPARK, the company’s revenue in 2022 amounted to RUB 11.17 billion, with a net profit of RUB 259.38 million.
It is worth noting that Heineken has previously announced the suspension of beer exports to Russia and the halt of new investments in the country, but then reported a complicated exit of the brand and sale of assets and noted that the timing of the exit from Russia “does not depend on us.”
It is noteworthy that the Russian Heineken will be produced by the same company that makes cockroach repellent)))
