(Reuters) – Kellogg Co said on Thursday it has decided to divest its operations in Russia to Chernogolovka, a local company.
The Corn Flakes maker earlier this year suspended all imports of its products in Russia and pulled investments including advertising and promotions in the country, following Moscow’s invasion of Ukraine.
The Kellogg business in Russia currently represents less than 1% of net sales, a company spokesperson said, adding that sustaining its operations there has now become untenable.
Kellogg joins a list of Western companies that have sold their Russian assets to comply with sanctions imposed on Moscow over the Ukraine conflict.
The sale is subject to a number of local government regulatory approvals, the company said.
(Reporting by Granth Vanaik and Deborah Sophia; Editing by Shounak Dasgupta)
