Dutch brewer Heineken says it has completed its withdrawal from Russia, 18 months after Moscow launched its full-scale invasion of Ukraine.
THE HAGUE, Netherlands — Dutch brewer Heineken has completed its withdrawal from Russia, 18 months after Moscow launched its full-scaleHeineken said it would incur a total loss of 300 million euros for the sale to Russian manufacturing giant the Arnest Group.Heineken had faced criticism for the slow pace of its exit in the wake of the outbreak of war, but insisted it was seeking to look after its local employees in Russia.
“While it took much longer than we had hoped, this transaction secures the livelihoods of our employees and allows us to exit the country in a responsible manner,” Heineken CEO Dolf van den Brink said in a statement. The sale covers all of Heineken's assets in Russia, including seven breweries. The company said that Arnest has guaranteed the employment of Heineken's 1,800 local staff for three years.Heineken brand beer was removed from the Russian market last year. One of its other major brands, Amstel, will be phased out within 6 months, the company said.
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