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Danone to Take €1 Billion Hit From Exiting Russia Dairy Unit

  • Company seeks new operator for dairy, plant-based operations
  • Russian business makes up 5% of Danone’s total revenue
Danone products at a supermarket in Moscow.

Danone products at a supermarket in Moscow.

Source: Bloomberg

Updated on

Danone said it’s seeking a buyer for the Russian operations of its dairy and plant-based foods unit, and a sale could result in a write-off of up to €1 billion ($978 million).

The business, which owns the country’s top dairy brand, Prostokvashino, represented around 5% of Danone’s revenue in the first nine months of the year. The unit is Russia’s largest dairy business, with 12 production sites and 8,000 employees.