By Mauro Orru
Unilever, the owner of Sunsilk shampoo and Dove soap, said it had completed the sale of its Russian subsidiary to Arnest Group, a Russian maker of perfume, cosmetics, and household products.
The Anglo-Dutch consumer-goods giant said the disposal included its entire business and four factories in Russia as well as activities in neighboring Belarus, though it didn't disclose terms of the deal.
"Over the past year, we have been carefully preparing the Unilever Russia business for a potential sale," Chief Executive Hein Schumacher said. "This work has been very complex, and has involved separating IT platforms and supply chains, as well as migrating brands to Cyrillic."
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
October 10, 2024 04:55 ET (08:55 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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