The French food company Danone announced its withdrawal from the Russian market. The business will be transferred to another owner. The relevant statement was published on the company's official website.
"Today, Danone announces the decision to initiate the process of transferring control over the Essential Dairy and Plant-based business in Russia. Danone believes that this is the best option to ensure the long-term continuity of the local business for its employees, consumers and partners," the message reads.
In the first 9 months of 2022, the EDP business in Russia accounted for approximately 5% of Danone's net sales.
The company noted that losses from the transfer of business will amount to 1 billion euros.
Danone is one of the world's largest producers of dairy products and other food products. Among its brands in Russia are Prostokvashino, Activia, Actimel, Bio Balance, Rostyshka, Tema, Danissimo.