Heineken to cease production, sales of flagship brand in Russia
MOSCOW. March 9 (Interfax) - The Netherland's Heineken, the second largest beer producer worldwide, will cease production, advertising and sales of its flagship Heineken brand in Russia, Chairman of the Executive Board and CEO Dolf van den Brink said in a statement posted on the company's website.
"In response to the continued escalation of the 'military operation', we are today announcing the following steps: Heineken will stop manufacturing, advertising and selling its Heineken brand in Russia," van den Brink said in the statement.
Additionally, Heineken will no longer accept any net financial benefit derived from the Russian operations. All payments, royalties and dividends will be suspended.
The company had previously announced the suspension of all new investments and exports to Russia.
Heineken also sees a clear distinction between the actions of the Russian authorities and its employees in Russia, and supporting employees and their families remains a key principle of the company, van den Brink said.
Heineken's portfolio includes around 300 brands, including Heineken, Amstel, Birra Moretti, Desperados, Foster's, Newcastle Brown Ale, Sagres, Sol, Star, Strongbow, Tecate, Tiger, and others. National brands in Russia include Okhota, Zhigulevskoe, Stepan Razin, Bochkarev, and others.