A year ago, IKEA paused activities in Russia over the country’s invasion of Ukraine.

Now, they’ve divested of their Novgorod factory by selling it to local firm Invest Plus.

Shortly after February 24, 2022, IKEA halted all retail and production operations in Russia, hot on the heels of Moscow’s invasion of Ukraine. They briefly resumed online sales last summer, and part of the company operates 14 MEGA-branded shopping malls within Russia.

In February, news broke that Ingka Group (owner of most IKEA stores) was looking for buyers for the malls.

Brand owner Inter IKEA Group told Reuters about the sales, “The (Novgorod factory) sales process has been structured and stepwise in order to find a new owner with a strong plan and capability to develop the business.”

It’s unclear how much the deal is worth, or what the terms are.

Invest Plus CEO Vadim Osipov said in a statement, “The process of concluding the deal was not easy and quite lengthy. Our goal is to return the highly popular and quality production of the Novgorod factory to Russia’s furniture market as quickly as possible.”