Heineken has officially cut ties with Russia, and they’re never looking back. That is why the Dutch company traded all their Russian-based breweries for one. Single. Euro. 🤪
Yep, you read that right. Heineken is taking a €3 million hit by deciding to exit and exchange all Russian beerhouses for a very symbolic €1, NOS reports.
The not particularly lucky buyers? Arnest Group, a Russian industrial group.
As a condition of the sale, other regional beer businesses will be allowed to continue brewing for the next three years.
A long time coming
Heineken vowed to turn its back on Russia completely in March 2022 following the invasion of Ukraine, but the process turned out to be both complicated and time-consuming.
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CEO of the breweries, Dolf van den Brink, says this delay was worth it since it benefitted “the future of [their] employees in Russia” and allowed them to exit the country “in a responsible manner.”
READ MORE | Heineken continues investing in Russia (but can’t do deposits for cans)
After having sold beer in Russia for 20 years (which proved to be “difficult and not very profitable”), Heineken has decided to take their leave without a right of repurchase.
In other words, this is a clean break, and Russia will have to kiss the taste of Amstel goodbye. 👀
What are your thoughts on this symbolic business transaction? Let us know the comments below!
