Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed

Danone is a French food company, a well-known manufacturer of dairy products and other food products.

 
 
 
 

Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed
Revenue(RF), mln.USD
2630
Assets(RF), mln.USD
1039
Capital(RF), mln.USD
382
Glob.Revenue, mln.USD
29889
Plants
17
Staff(RF), 2021
8000

The company has 16 plants and 1 farm in the Russian Federation producing traditional dairy products, yogurts, desserts under the Prostokvashino, Aktivia, Actimel, Danissimo, Tyoma, and Alpro brands. France's Danone (DANO.PA) said, it will book a further 200-million-euro writedown on its Russia business after it was effectively taken over by the state, taking the overall writedown on its Russian operations to around 700 million euros. Danone plans to sell its Russian business to a member of the Kremlin-installed leadership with ties to the nephew of Chechen leader Ramzan Kadyrov, seven months after Putin ordered the confiscation of the French company's local operations. Danone wants to sell the Russian assets of dairy company Vamin Tatarstan, which is owned by 29-year-old Mintimer Mingazov. Mingazov was appointed to the board of Life & Nutrition (the renamed subsidiary of Danone in Russia) this summer after the Kremlin handed control of the company to Yakub Zakriev, Kadyrov's 33-year-old nephew.

The Company Statement
May 17, 2024

Suspend new investment in Russia. Announced Transfer: the company seeks new operator for dairy, plant-based operations. According to the results of January-September 2022, Danone's global revenue grew by 14.9%, up to €20.7 billion, year-on-year, the business of dairy products and plant-based beverages in the Russian Federation accounted for about 5%. Still operating in Russia with increasing revenue volumes in 2022 vs 2021 (+$294mn or +11%) according to RAS (Russian Accounting Standards) and Federal Tax Service of Russia data, which doesn't include IFRS adjustments and intragroup eliminations. In the company's annual report prepared in accordance with IFRS, Russia's share in gross income is $1.5 billion (~6% of the total amount). Russia seizes control of shares in Danone and Carlsberg subsidiaries. Involuntary/forced exit. 09.2023: The full name was changed from DANONE TRADE LLC to H&N TRADE LLC | 20.09.2023: The entry about the founder of JSC "DANONE RUSSIA" was deleted; JSC "H&N" becomes the new founder of the organization. New owners of Danone are actively working/hiring new people in russia. The map used by the ru division of the company also shows the map of russian federation with Crimea and occupied territories in Luhans'k, Donets'k, Zaporizhzhia, and Kherson as part of the country. Russian President Vladimir Putin canceled the transfer of the assets of the French company Danone in Russia to the temporary management of the Federal Property Management Agency. Danone completed the sale of Russian assets to Vamin R.

Open the Statement
Statements Archive
October 09, 2024H&N CEO Yakub Zakriyev: We have become an entirely Russian, standalone business
September 30, 2024Return to leadership and sales records
September 05, 2024‘They Have Stolen Our Business’: When You Leave Russia, Putin Sets the Terms
September 03, 2024Chinese automaker Chery has become the largest foreign company in Russia
May 17, 2024Danone completed the sale of Russian assets to Vamin R
March 27, 2024Danone to Complete Disposal of Russian Business in Coming Weeks
February 27, 2024Letter: Groups that stay in Russia risk complicity in Putin’s war crimes
February 20, 2024Danone plans to sell Russian operations to Chechnya-linked businessman
December 21, 2023Danone company vacancies in Russia - work in Moscow, Krasnodar, Kemerovo, Samara
December 08, 2023Danone’s Chechen takeover: inside a Russian expropriation
August 18, 2023Danone in Russia will be renamed H&N in September
August 07, 2023FT estimated damage to European companies since the beginning of the conflict in Ukraine at €100 billion
August 06, 2023European companies suffer €100bn hit from Russia operations
July 26, 2023Danone writes down Russia assets, beats on like-for-like sales
July 19, 2023Kremlin oligarchs eye Carlsberg assets as Kadyrov ally takes over Danone unit
July 16, 2023Moscow seizes Russian subsidiaries of Danone and Carlsberg’s Baltika
July 16, 2023Russia takes control of shares in local Danone subsidiary after Putin signs decree
April 07, 2023Gone into milk: Danone plans to withdraw part of the brands from the Russian market
March 13, 2023Letter sent by B4Ukraine to the company and the response provided
February 22, 2023ANNUAL FINANCIAL REPORT 2022
February 12, 2023For Fear or Money, Consumer Giants Are Staying in Russia
February 03, 2023Yoghurt has a return date
November 30, 2022Yale's SOM List
October 14, 2022Danone to Take €1 Billion Hit From Exiting Russia Dairy Unit
October 14, 2022Danone to withdraw from Russia, with a €1 bln write-off as result
August 10, 2022"Mommy, it's necessary to knock...". Which Western companies have the most factories in Russia?
April 05, 2022Danone says "all options on the table" on Russia business
March 06, 2022At Danone, we are all deeply affected by what we are seeing every day since the invasion of Ukraine
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