Nestlé 'assessing options' after Putin seizes KitKat maker's Russian business in Kremlin's biggest foreign takeover since 2024
From the Newshound archive · first published 19 September 2026.
Putin signed the decree on Thursday evening, transferring full control of Nestlé's entire Russian operation — six factories and roughly 7,000 employees — to a little-known Moscow shell company, L.E.V. Management, itself only registered in 2024. Auchan and assets tied to the former Leroy Merlin chain were also swept up in the move, making it the Kremlin's largest seizure of foreign corporate assets in at least a year. Nestlé, whose Russian business is estimated to generate around £1.81 billion in annual revenues, said it was committed to protecting its rights and maintaining business continuity for its workforce. The action follows the earlier takeovers of Carlsberg and Danone's Russian operations, both of which were subsequently sold to Kremlin-linked buyers.
Nestlé first established a presence in Russia in the 1990s but scaled back after 2022, stopping sales of KitKat and Nesquik and freezing new investment.
Legal ownership of the business remains with Nestlé's shareholders for now, but complete management authority over Nestlé Russia and Nestlé Kuban has been handed to L.E.V. Management.
L.E.V.