Danone suspends investment in Russia, but will continue to

Photo: iar2018.danone.com

Reading time:<1 minute

Danone has suspended plans to invest in Russia following the invasion of Ukraine, said the company’s general secretary, Laurent Sacchi. However, the world’s largest yogurt maker will continue to sell dairy and baby food, the representative said, according to Bloomberg.

Danone will continue to monitor the situation and enforce any decisions taken by the French authorities, the company said in a statement.

Danone CEO Antoine de Saint-Affrique was among the CEOs and chairmen of some of France’s largest companies that met with Emmanuel Macron on Friday, according to Le Figaro. The French president urged them not to leave Russia in a hurry and, in any case, not without consulting the government, the newspaper reported.

“We have decided to suspend all investment projects in Russia, but we are currently maintaining the production and distribution of fresh dairy products and infant nutrition to further meet the basic food needs of the local population,” Sacchi said.

One of Danone’s two factories in Ukraine has closed, while the second has resumed operations, he said.