Who bought Heineken’s Russian business?
The international brewing group announced the sale of its Russian division to Arnest Group, a manufacturer known for household chemicals and consumer packaging solutions. The purchase price for the entire Russian operation was disclosed as one euro for full ownership, signaling a complete transfer of assets. The company projects a total loss related to the exit, including foreign exchange impacts, totaling around 300 million euros. In a clear plan to wind down activity, Heineken said it would stop beer production under the Amstel brand in Russia within six months and clarified that no other international brands would be licensed in the country, with only some small regional labels remaining in circulation. The buyer is set to receive seven production facilities, and approximately 1,800 employees at Heineken Russia will be offered employment security for the next three years. Additionally, the purchaser must assume the historical debt of Russian subsidiaries and repay it to the company in installments of roughly 100 million euros.
Heineken’s portfolio includes about 300 beer brands, such as Heineken, Amstel, and Krusovice. Within the Russian market, local brands like Okhota, Zhigulevskoye, and Bochkarev are part of the brand ecosystem that will be affected by the transition. The deal signals a broader shift as the company focuses on its strategic footprint outside of Russia, while ensuring a staged and orderly wind-down process for its local assets and workforce. (Source: Heineken press materials and market filings, with subsequent updates reported by industry trackers)
Arnest Group’s profile and Russia operations
Arnest Group, registered in Nevinnomyssk in the Stavropol Territory, operates a household chemicals facility and conducts production at the Aerosol Novomoskovsk plant in the Tula region. The group holds a dominant position in the aerosol segment in Russia, accounting for more than half of the market share. Its product lines extend beyond household goods to include hair care products under brands such as Prelest, air fresheners under the Symphony label, and a range of pesticides, including Dichlorvos and Mosquitall. Market data from SPARK indicates the group posted a net profit of approximately 259.38 million rubles in 2022, with revenue around 11.17 billion rubles. (Source: SPARK corporate profiles and regional business registries)
Earlier in September 2022, Arnest Group acquired the Russian assets of the American Ball Corporation, a move that expanded its aluminum packaging footprint. The Ball assets were integrated under Arnest Packaging Solutions, and the company has outlined plans to complete the aluminum can plant project initiated by Ball in the Ulyanovsk region by year end. This expansion aligns with Arnest’ s strategic push into packaging while diversifying its manufacturing base in Russia. (Source: corporate announcements and trade coverage)
Heineken’s effort to exit Russia
In early March 2022, the Dutch brewer paused beer exports to Russia and halted its investment programs as part of a broader response to events in the region. Within days, beer production under the Heineken name ceased in Russia. By late March 2022, the company indicated its intention to transfer the Russian operation to a new owner, though timelines shifted multiple times. Initial expectations aimed for a deal by the end of 2022, followed by forecasts of a sale in January, and promises to exit the market within the first half of 2023, with updates extending into 2023. During this period, Heineken continued operations in Russia and stressed its efforts to identify a suitable buyer amid challenging conditions. (Source: corporate statements and market coverage)
By March of the current year, Heineken signaled that the Russian division would roll out new domestic products to avoid financial distress, and shortly after reported that a buyer had been found. An application was filed with Russian regulatory authorities to finalize the transaction, though the purchaser’s name was not disclosed at that time. The prolonged process drew criticism from international observers and industry partners, who highlighted the implications of the sale for brand associations and regional partnerships. (Source: regulatory filings and press updates)
Events in the broader market, including cultural sponsorships and festival partnerships, contributed to ongoing scrutiny of Heineken’s activities in Russia. Critics pointed to alignment challenges between the company’s global brand identity and the evolving business decisions in the region. The company’s leadership emphasized that the exit would be conducted with care for employees and business continuity, seeking a buyer capable of honoring existing commitments while enabling a disciplined wind-down of operations. (Source: coverage from industry outlets and corporate briefings)