OREANDA-NEWS  The Finnish company Reima, specializing in the production of children's clothing, has completed a deal to sell its assets in Russia. This is stated in the company's message.

"The exit of Reima from Russia has been completed, as the subsidiary of Reima in Russia was sold to a local operator," the report says.

Reima's own stores and eco-stores in Russia were finally closed in March 2022. The use of the Reima brand by franchising entrepreneurs was discontinued after the transition period in June. At the last stage of the exit process, the Russian subsidiary Reima, together with the remaining assets, was sold to a group of local investors. All necessary permits were obtained from the Russian authorities, and the transaction was closed in February 2023, the report says.

The staff of Reima in the Russian subsidiary has moved to work for the new owner. A subsidiary of Reima LLC will also change its name as part of the agreement, the material adds.