Concern Manufacturer of household and industrial chemicals Henkel AG has completed the sale of its Russian assets, with the agreed transaction value reported at 54 billion rubles. This development was communicated through an official company press release. [Source: Henkel press release]
On April 20, 2023, Henkel disclosed that it had signed a formal agreement to transfer its Russian business operations to a consortium of local financial investors. The press release also noted that Henkel had already moved to terminate its activities in Russia in the preceding year, and that the total price for the deal stood at 54 billion rubles, which was roughly equivalent to 600 million euros at the time. The document confirms that the transaction has been officially committed, signaling a clear path toward closing in the near term. [Source: Henkel press release]
The consortium set to acquire Henkel’s Russian assets comprises Augment Investments, Elbrus Services, and Kismet Capital Group. According to the press statement, the total transaction value is 54 billion rubles, and the parties anticipate finalization shortly after the closing conditions are satisfied. This process marks a significant step in Henkel’s strategic realignment away from the Russian market following earlier strategic decisions. [Source: Henkel press release]
Henkel initiated the decision to cease operations in Russia in April 2022. Earlier, on February 9, 2023, it was announced that Henkel Russia would pause its activities within the Russian Federation. At the start of the year, the Russian subsidiary began operating as an independent entity under the name Lab Industries. These changes reflect Henkel’s broader global repositioning and its approach to compliance with evolving market dynamics. [Source: Henkel press release]
Observers note that the sale represents a meaningful reorganization of Henkel’s geographic footprint. While the company maintains a core portfolio elsewhere, the Russian market has been handled by an independent entity during the transition. The closing of the sale will finalize the transfer of ownership to the new group and complete the exit process from active business operations in the country. Analysts and stakeholders will be watching closely for any regulatory approvals, integration steps, and strategic plans that the buyer groups intend to pursue in the region. [Source: Henkel press release]