Heineken shuts down beer production, sales in Russia, Retail News, ET Retail
The world’s second-largest brewing company had already suspended new investments and exports to Russia last week.
“We are shocked and saddened to see the tragedy unfold in Ukraine,” Heineken chief executive Dolf van den Brink said in a statement.
“The Russian government’s war against Ukraine is an unprovoked and completely unjustified attack,” he said.
The company said it was halting production, advertising and sales of the Heineken brand in Russia “in response to the continued escalation of the war”.
Heineken employs 1,800 people in Russia and claims to be the third largest brewer in the country, where it manufactures the Zhigulevskoe and Oxota brands for the local market.
The brewer said it would take “immediate steps to isolate” its Russian business from the rest of its global operations “to stop the flow of money, royalties and dividends out of Russia.”
“Heineken will no longer accept any net financial benefit from our Russian operations,” he said.
Other famous Heineken brands include Amstel, Tiger and Strongbow cider.
About 300 companies have announced their withdrawal from Russia since it invaded neighboring Ukraine, according to researchers at Yale University.
McDonald’s, Coca-Cola and Starbucks joined the crowd on Tuesday following public pressure to do so.
French railway giant Alstom announced on Wednesday that it was suspending deliveries to Russia as well as future business investment in that country.
But Alstom said it was retaining its stake in Russian locomotive and rail equipment supplier Transmashholding.