Leroy Merlin has announced its intention to leave Russia after 18 years of activity. This is stated in the message of the French group ADEO. RBC, citing a company representative, claims that the Russian Leroy Merlin will be transferred to local management.
According to the source of the publication, the change of ownership will not affect the business, and all jobs for 45,000 employees will also be saved.
ADEO said in a statement that the withdrawal process was initiated several months ago, and since the outbreak of the war in Ukraine, the company has suspended all new investments in Russia.
The Leroy Merlin network in the Russian Federation consists of more than 100 hypermarkets in 62 cities.
Despite the news often appearing in the media about the departure of foreign companies from Russia and the sale of business, most of them headquartered in the EU and G7 countries continue to work in the Russian Federation, economists from Switzerland found out. In total, since February 24, 2022, after the Russian invasion of Ukraine, more than 1,000 foreign companies have left the Russian Federation. Among them are Microsoft, Netflix, McDonald's, Johnson & Johnson and others.