Kellogg withdraws from Russian market
2022.12.22 11:23
Kellogg withdraws from Russian market
Budrigannews.com – Kellogg, Inc. Company announced on Thursday that it had made the decision to sell its Russian operations to Chernogolovka, a local business.
The Corn Chips producer recently suspended all imports of its items in Russia and pulled ventures remembering publicizing and advancements for the nation, following Moscow’s attack of Ukraine.
A spokesperson for the company stated that the company’s operations in Russia are now unsustainable and that the business accounts for less than 1% of net sales.
Kellogg joins a list of Western businesses that have sold assets in Russia to comply with sanctions imposed on Moscow because of the conflict in Ukraine.
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According to the company, the sale requires a number of regulatory approvals from the local government.
