In April 2022, Henkel announced the decision to exit Russia following its attack on Ukraine and signed an agreement on selling its business activities in Russia to a consortium of local financial investors.
WHO: Founded in 1876, Henkel operates globally with a well-balanced and diversified portfolio. The company holds leading positions with its three business units in industrial and consumer businesses thanks to strong brands, innovations, and technologies.
WHY: The deal followed the German conglomerate's announcement to divest its operations in the country last year when Russia attacked Ukraine. Henkel joins the ranks of beauty businesses that have reduced or discontinued operations in response to the war.
IN THEIR OWN WORDS: “All acquirers have established and long-standing business relationships in Western countries and are not subject to EU or US sanctions,” Henkel said in a statement.
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