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
The international Danish concern Flugger is one of the oldest and most successful retail chains in the world. It has existed for more than 230 years and has extensive experience in its own developments in the field of paint and varnish products, based on the capricious and often extreme weather of Scandinavia.
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 CompletedThe Danish paint company Flügger is under police investigation for selling products in Russia, as reported in a company note on Thursday. Following reports from DR, it was revealed that Flügger products were marketed and sold in Russia both online and physically. The National Unit for Special Crime conducted searches and made arrests related to potential sanctions evasion. Flügger claims to have severed ties with certain distributors after discovering misuse of its products against company agreements. Director Sune Schnack expressed that the company was deceived by a former partner. Flügger is cooperating with police and strengthening control mechanisms. It suspects resale to Russia via distributors.
Initiated the sale of its Russian and Belarusian companies. The operations of the companies in Russia and Belarus will continue until the sale is completed, to secure our local employees and to avoid nationalization of the company. In the company statement dated 10.11.2023 it says that Flugger has sold all of its activities in Russia and Belarus.