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Nestlé said on Friday that it is studying all available options to protect its rights following the Kremlin's decision to take control of the Swiss food company's business in Russia.
The manufacturer of Nescafé coffee and Kit Kat chocolate stated that it was aware of the decision, which was revealed in a presidential decree on Thursday, and that it is assessing the situation.
It explained in a statement that it is committed to taking all necessary steps to protect its rights and ensure the continuity of its business for the benefit of all concerned parties, particularly its employees.
The company refused to provide further comments on the measures it is considering taking.
Russia has tightened control over assets owned by foreign entities since the outbreak of the war in Ukraine in 2022. A 2023 decree signed by Putin gives Moscow the authority to place assets of countries it deems 'unfriendly' under temporary administration.
Nestlé has six factories in Russia, producing coffee, pet care products, and baby milk. It employs seven thousand employees there. It achieved sales of around two billion Swiss francs in 2021, the last year for which it released data.
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