Nestle reviews rights after Russia move

• Nestle said it is assessing options after Russia placed its local business under temporary control.
• The company said it will take steps to protect its rights and maintain business operations.
• Nestle’s Russian operations include six factories and about 7,000 employees.

Nestlé said it is reviewing options after the Russian government placed its local business under temporary control through a presidential decree.

The company said it took note of the decision and is assessing the situation, while Russia has increased oversight of foreign-owned assets since the start of the Ukraine war in 2022.

“Nestle is committed to taking all necessary steps to protect its rights and ensure continuity of business operations in the interests of all stakeholders, particularly its employees,” the company said.

Nestle said its Russian operations include six factories producing coffee, pet care products and infant formula, with about 7,000 employees in the country.

Nestle operates globally across food and beverage categories, including brands such as Nescafe coffee and KitKat chocolates, while it previously reported about 2 billion Swiss francs in Russian sales in 2021.

Analysts cited by the company’s coverage said Russia’s contribution to Nestle’s overall sales has declined after the company reduced activities in the country, while the situation remains subject to further developments.