Putin seizes Nestle, French firms’ Russia assets over West's Ukraine support: How big is Nestle’s business there?

Russian authorities have seized the assets and businesses of Nestle, Auchan, Lemana Pro and FM Logistic in response to Western support for Ukraine, according to the Kremlin. This marks the latest move against Western companies within Russia. Nestle, a Swiss food giant, operates six factories in the country and employs approximately 7,000 people, manufacturing and distributing a variety of products including coffee, pet care, infant nutrition and confectionery.

However, Russia represents a relatively minor portion of Nestle's global sales, accounting for around 1% as of now, compared to around 2% before the Ukraine war. The seizure could result in a substantial financial loss for Nestle, with estimates suggesting a potential write-off of around 1 billion Swiss francs ($1.2 billion). Auchan, a major French food retailer with 241 stores and 33,000 employees in Russia, and Lemana Pro, formerly Leroy Merlin, also had their Russian operations transferred under the decree.