Henkel has long tried to divest its Russian business.
(Photo: Getty Images; Per-Anders Pettersson)
Berlin Henkel sells its Russian business to a consortium of local financial investors. The price is 54 billion rubles and thus around 600 million euros, the consumer goods group announced on Thursday.
The consortium included Augment Investments, Kismet Capital Group and Elbrus Services. “All buyers have established and long-standing business relationships in Western countries and are not subject to EU or US sanctions.” The Russian authorities have already approved the transaction.
The split was announced last year following Russia’s invasion of Ukraine. The manufacturer of Pritt and Persil has been active in Russia for more than 30 years and most recently operated eleven production sites there.
The Düsseldorf-based company achieved five percent of its group sales in Russia, around one billion euros, and employed 2,500 people in eleven plants. Henkel was active there with its consumer goods and adhesives business.
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