Russian President Vladimir Putin signed a decree placing the Russian assets of Swiss food giant Nestlé and French retailers Auchan and Lemana Pro (formerly Leroy Merlin) under temporary state administration. The Kremlin defended the move as a justified response to "unfriendly" Western nations supporting Ukraine. The assets were transferred to L.E.V. Management, a shell company reportedly led by a Russian interior ministry general. Affected companies are assessing their legal options while attempting to maintain business continuity for their local employees.
Putin asset seizure decree
- ▪The decree signed by Russian President Vladimir Putin on September 17, 2026, placing the Russian assets of Nestlé, Auchan and Lemana Pro under temporary administration, represents the first major seizure of Western-owned assets by Moscow since the 2023 takeovers of Danone and Carlsberg's Baltika Breweries
- ▪Russian President Vladimir Putin signed a decree on September 17, 2026, placing the Russian assets of Nestlé and French retailer Auchan under temporary state administration
LEV Management transfer mechanism
- ▪The Russian operations of Nestlé, Auchan, and Lemana Pro were transferred to L.E.V. Management, a company registered in Moscow
- ▪Investigative outlet Novaya Gazeta Europe reported that L.E.V. Management was created at the end of 2025, has no known business activity, and is headed by a Russian interior ministry general
Nestlé Russian operations response
- ▪Nestlé operates six factories in Russia, employing approximately 7,000 people to produce coffee, pet care, infant nutrition, and confectionery products
- ▪Bank Vontobel analyst Jean-Philippe Bertschy estimated that Russia contributes just over 1% of Nestlé's group sales, down from 2% before Russia's full-scale invasion of Ukraine
Leroy Merlin asset confiscation
- ▪The decree signed by Russian President Vladimir Putin on September 17, 2026, placed Lemana Pro, the former Russian subsidiary of French DIY retailer Leroy Merlin, under temporary administration
- ▪The Mulliez family, which controls Auchan and Leroy Merlin, transferred operational control of Lemana Pro to UAE-registered Scenari Holding in 2023
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