Unilever and Kraft Heinz Stop Exports and Capital Investment in Russia
Source: The Wall Street Journal
Unilever PLC said it will stop its advertising and media spending in Russia, as well as suspending all imports and exports of its products into and out of the country.
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Kraft Heinz Co. separately said it is suspending all new investments in Russia, as well as all exports and imports of Kraft Heinz products into and out of Russia.
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Unilever and other major food companies that do business in Russia, such as Mondelez International Inc., Nestle SA, Coca-Cola Co., PepsiCo Inc., have been under pressure from investors and consumers to cut ties with the country in light of Russia’s invasion of Ukraine.
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Unilever operates an ice cream factory in Omsk, Russia, and it has offices in four other cities there. Unilever said it will continue to supply the essential food and hygiene products it makes in Russia.
Read more: https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-03-08/card/unilever-stops-exports-and-capital-investment-in-russia-pulls-ad-spending-CBrgj2TQNDMK9O2KVApI
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