German tea manufacturer Milford leaves Russia
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The German company Laurens Spethmann Holding, specializing in the production of Milford tea and sweeteners, has exited the Russian business, transmits RBC with reference to the data of the Unified State Register of Legal Entities. The owner of a 100% subsidiary of the holding, OOO Milford, became its CEO Ilya Blinov. The company did not comment on the information about leaving Russia.
The company has been operating in Russia since 1996, when it opened a representative office in Moscow. Since 2015, part of the Milford tea range, as indicated on the Russian website, has been produced in Russia.
The international company Ekaterra announced its withdrawal from the Russian market on August 1, stating that “the current situation does not allow stable business development.” Ekaterra produces Lipton, Brooke Bond and Saito teas. It is expected that the production of Ekaterra brands will be discontinued by the end of 2022, after which the sale and distribution in the Russian market will be completely stopped.
After the start of the special operation, many foreign companies announced the suspension of their activities in Russia or the complete withdrawal from the country’s market. By data Yale University, more than 1,000 companies have suspended operations in the country.
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