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A-Brands

Norway's Orkla Exits Russia Following Ukraine Invasion

Norwegian conglomerate Orkla said on Friday it will cease its operations in Russia, making it the latest Western company to leave the country following the invasion of Ukraine.

Orkla's Hame Foods ZAO unit produced "long shelf life food products" for the Russian market, the company said in a statement.

"After a thorough decision-making process, we have concluded that it is no longer desirable to continue to operate in Russia, and we are therefore ceasing our activities," said Johan Wilhelmsson, the head of Orkla Foods International. "We will strive to take care of the employees in the best possible way in a difficult time."

Orkla had 367 employees in Russia and last year's revenue amounted to NOK 184 million (€18.7 million), a small fraction of the group's overall sales of just over NOK 50 billion (€5.09 billion

Orkla said it has also stopped exports and imports related to Russia as well as to Belarus, which has supported Moscow's invasion.

Reckitt Stops Advertising, Promotion

Elsewhere, household goods maker Reckitt said that it was stopping 'all advertising, promotion and sponsorships' in Russia, one week on from announcing it was freezing any capital investments in the country.

It will continue to operate in Russia, where it employs a workforce of 1,300 people, in order to meet the needs of "ordinary Russians who rely on our basic hygiene and health products for their everyday needs", commented chief executive Laxman Narasimnhan.

"Conditions remain volatile and unpredictable. We are staying very close to our teams as we assess our response every day," he said. "We will adapt as circumstances evolve and will continue to keep you informed."

News by Reuters, additional reporting by ESM – your source for the latest A-Brands news. Click subscribe to sign up to ESM: European Supermarket Magazine.

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