Luzales and Slotex acquire Russian assets of IKEA

A government commission has approved the sale of Swedish furniture maker IKEA’s three plants in Russia to two Russian buyers. Deputy Trade and Commerce Minister Viktor Yevtukhov told the daily Izvestia that kitchen worktop manufacturer Slotex and lumber producer Luzales would purchase the plants. IKEA plans to close the deal in 1H 2023, while the amount and parameters are not disclosed.

The factories would continue to operate and its production would be sold by Russian retail outlets.