Other major global food brands like McDonald’s and Starbucks have exited Russia in recent months while the likes of Nestle have sharply scaled back operations.
, Danone said it has begun the process of transferring control of its essential dairy and plant-based business to an as-yet unnamed entity in Russia.So far this year, Danone said its Russian operations accounted for 5% of the company’s net sales, the company added.
Explaining the decision, Danone said it believes the move is the “ best option to ensure long-term local business continuity” for its workers, customers and partners in Russia.Danone joins several other multinational food and beverage companies that have either exited Russia or have been forced to scale down their business in the country, owing to a bevy of sanctions against the country following its invasion of neighboring Ukraine.
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