Is Holland and Barrett ethical?
Our research highlights several ethical issues with Holland & Barrett, including its approach to tax avoidance, animal testing, palm oil and company ethos.
Below we outline some of these issues. To see Holland & Barrett's overall ethical rating, and the full stories behind the rating, please sign in or subscribe.
NOTE: The text above was written on 27th July 2026 and the research was conducted in June 2026.
Company ethos
There were calls of a boycott of H&B in 2022 when Russia invaded Ukraine because H&B is owned by LetterOne, which was founded by Russian oligarch Mikhail Fridman, and in which he held a major stake. Fridman and fellow oligarch Petr Aven own just under 50 per cent of LetterOne. Fridman had refused to denounce Putin. He was sanctioned by the EU and had his assets frozen and was banned from travelling within the EU. The EU called Fridman “a top Russian financier and enabler of Putin’s inner circle”.
Fridman's stake in LetterOne was frozen, meaning he had no shareholder rights and could not sell and could not receive any dividends.
EU sanctions were removed in 2024 but they are still in place in the UK and in November 2025 Fridman began suing the UK government in a corporate court.
LetterOne also part owns a company involved in the oil and gas industry.
Animal testing
Holland & Barrett scores poorly in Ethical Consumer’s animals category. Whilst H&B stated that its own brand and other brands it sells were not tested on animals, there were no third party certifications. Parent company LetterOne had investments in healthcare and pharmaceutical companies which permitted testing on animals.
Palm oil
The company uses palm oil but states that it is all certified by the RSPO. To get more points its palm oil would have to be segregated so that certified sources were kept separate from conventional palm oil. But it said that only 33% of its palm oil was segregated.
Tax conduct
Holland & Barrett is ultimately owned by an investment company, LetterOne Holdings, based in Luxembourg, a tax haven.
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NOTE: The text above was written on 27th July 2026 and the research was conducted in June 2026.