Danone reports completing the sale of its assets and exiting the Russian market. This decision was made by the company in the third year after the full-scale Russian invasion of Ukraine.
Danone has completed the sale of its assets and is winding down its operations in Russia, which accounted for about 5% of the company's global sales. The company had been operating in Russia for more than 30 years.
"Following the press release on March 22, 2024, where Danone announced that the Russian regulatory approvals required for the disposal of its EDP business in Russia to Vamin R LLC were obtained, Danone announces today it has completed this transaction," the company's website says.
The French company announced the termination of its investment projects in Russia on March 6, 2022.
Meanwhile, the media reported on Danon's plans to leave the Russian market back in February this year.