Recently, Kellogg Co announced that it had made the decision to sell its business in Russia to regional snack and beverage producer Chernogolovka, joining a long line of Western companies that have left the nation.
Following Moscow’s invasion of Ukraine, the snack manufacturer earlier this year ceased all imports of its goods into Russia and halted all promotional and advertising efforts there.
According to a company representative, the Kellogg business in Russia presently accounts for less than 1% of the company’s overall net revenues, and maintaining its operations there is no longer feasible.
Kellogg, which is also renowned for its Pringles potato snacks, has joined the list of Western businesses that have sold their Russian assets in order to abide by the sanctions put in place against Moscow due to the conflict in the Ukraine.
According to the corporation, a number of local government regulatory permissions are necessary for the transaction.
A source: https://www.potatobusiness.com
