The transaction comprises the sale of the shares in Paulig Rus LLC to the private investor Mr Vikas Soi. Thereby the Paulig operations in Russia including the coffee roastery in Tver and Paulig´s 200 employees will transfer to the new owner. The Paulig brands and recipes are not included in the sale. The value of the transaction is not disclosed.
“Due to Russia’s attack on Ukraine and changes in geopolitical situation, we concluded that continuing business in Russia was no longer responsible nor viable and initiated a withdrawal process. Considering our employees, customers and local legislation, the sale of the business was the best solution for the exit”, says Rolf Ladau, CEO of Paulig.
The Paulig brand will be phased out in Russia during the next months. Green coffee supplies from Paulig to the new owner will continue for a transition period of maximum three months.
Russia accounted for less than 5% of the company’s revenue in 2021 and as such does not have a significant impact on Paulig’s outlook for the rest of its businesses.