Arnest Group
 | |
| Company type | Public joint stock company |
|---|---|
| Industry | Consumer goods |
| Founded | 1971 |
| Headquarters | Nevinnomyssk, Russia |
Key people |
|
Number of employees | 2,000 (2023) |
| Website | http://www.arnest.ru |
The Arnest Group is a Russian manufacturer of perfumery, cosmetics and household products.
History
[edit]The company was founded in 1971 in Nevinnomyssk and expanded in 2007, following the purchase of Aerosol Novomoskovsk.[1]
Following the Russian invasion of Ukraine, in February 2022, many Western companies curtailed their operations in Russia[2] and, aided by favourable conditions imposed by the Russian government, the Arnest Group entered a period of rapid expansion by buying up Western subsidiaries.
In September 2022, it purchased the Russian wing of the American aluminium manufacturing company, the Ball Corporation, in a deal worth $530 million.[3] In August 2023, it purchased the Russian subsidiary of the Dutch brewing company, Heineken.[4] The deal, worth $108 million, incorporated all of Heineken's Russian assets, including seven breweries, but did not included any Heineken branding rights.[5] And in October 2024, it purchased the Russian wing of the British consumer goods company, Unilever. The deal, worth $562 million,[6] included all of Unilever's business in Russia, four factories, and businesses in Belorussia.[7]
References
[edit]- ^ "About Us". Arnest.ru. 10 October 2024.
- ^ "Over 1,000 Companies Have Curtailed Operations in Russia—But Some Remain". Yale School of Management. Retrieved 19 May 2023.
- ^ "Ball Corporation Completes Sale of Russian Beverage Packaging Business". ball.com. 10 October 2024.
- ^ Kennedy, Niamh (2023-08-25). "Heineken sells Russian business for $1 as it completes exit | CNN Business". CNN. Retrieved 2023-08-25.
- ^ "HEINEKEN completes exit from Russia". www.theheinekencompany.com. 26 October 2024.
- ^ "Unilever sells Russian business for €520mn". ft.com. 24 October 2024.
- ^ "Unilever completes sale of Russian subsidiary". unilever.com. 10 October 2024.