RUSSIA (News release) -- Tetra Pak will be exiting its remaining operations in Russia. This is due to the cumulative impact of the restrictions on exports to Russia leading to an unsustainable supply chain, as a result of which the company is left with no other option than to exit the country.

This follows the company's earlier decision to suspend all new investments and projects in Russia, restricting its operations to support customers for essential food items only, in line with its strongly held commitment to the principle of people's right to access safe food.

Tetra Pak has now reached an agreement to divest its Russian business to local management, with the intention of enabling business continuity for its customers, minimizing the impact on employees, and continuing to support consumers' access to essential food.

Following this transfer of ownership, the new company will operate as an independent entity under a new name and will not be affiliated to Tetra Pak. This marks the end of 62 years of Tetra Pak's presence in Russia.