DUTCH brewer Heineken today announced it was pulling out of Russia after selling its operations to the Arnest Group, the largest Russian manufacturer of cosmetics, household goods, and metal packaging.  

Like other major Western companies, Heineken pledged last year to quit Russia, but drew criticism earlier this year after a Dutch investigative website reported that it was continuing its Russian sales.  

The company apologised in March for creating “ambiguity” on its vow to leave the country, saying it was hoping to secure jobs for its Russian employees but struggling to find a buyer for its Russian business.  

The brewer said in a statement today that the sale had received all the necessary approvals and “concludes the process Heineken initiated in March 2022 to exit Russia”.  

The move will incur an expected total cumulative loss of 300 million euros ($320 million), it added.  

“We have now completed our exit from Russia,” Heineken chief executive officer Dolf van den Brink said.  

“Recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia,” he added.   

“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.” – AFP, August 25, 2023.