The maker of Zewa toilet paper, Libresse sanitary napkins and Libero nappies has sold its Russian business for $117 million, with which the Swedish company Essity has completed its exit from the Russian market.
LLC “New Technologies” from businessman Igor Shilov became the new owner of the business in Russia of the Swedish company Essity. This is stated in the latter’s message.
Essity sold Russian assets for 1.2 billion Swedish kronor, or $117 million (about 10 billion rubles). With the completion of the transaction, Essity completely exited the Russian market, the company said.
Essity has been operating in Russia since 1994 and has produced Zewa toilet paper, Libresse sanitary napkins, Libero and Tena nappies. The company had factories in the Tula and Leningrad regions.
As of the end of 2022, Essity’s revenues in Russia accounted for just 2% of the company’s global sales.
Author:
Kirill Bilyk
Source: RB
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