Hochland is considering ending the self-imposed investment freeze in Russia in 2022 and resuming advertising in the Russian market, according to CEO Peter Stahl. He explained the change of heart with the situation on the ground. Hochland has been in the Russian market for around 20 years and operates three cheese dairies with around 1,800 employees. Before the war in Ukraine, the company was market leader, with the Russian subsidiary accounting for almost 25% of group sales. In the meantime, market leadership has been lost to a Russian competitor, and the Russian business’s share of revenue has fallen to 20 per cent. Auditors have estimated the loss of the Russian assets, which could then possibly fall into the hands of an oligarch loyal to Putin, at 30 per cent. Hochland is supported by the German ambassador to Russia, Alexander Graf Lambsdorff, among others.
