A fund managed by Horizon Capital is to acquire a minority stake in Ukrainian biscuit producer Yarych.
Yarych is the second largest packaged biscuits producer in Ukraine, holding a 33 per cent share of the packaged biscuits market with its branded Maria, petit beurre and The Crackers biscuits. Yarych was established in 2008, upon acquisition of the factory from Nestle by the Company’s founder, with the Yarych brand launched in 2010.
Yarych is among only a few IFS certified confectionary producers in Ukraine with regulatory approvals in place to enable exports to the European Union.
During the past two years, Yarych has been one of the fastest growing exporters of confectionary from Ukraine, with its products on the shelves of top European food retail chains and continues to grow its distribution network in the CEE region. The Company leverages its competitive platform in Ukraine and extensive in-house product development expertise to expands its fast growing and profitable business.
“We are pleased to attract investment from a Horizon Capital-managed fund and join forces with such a high-quality investor with significant experience in building leading FMCG companies in the region,” says Volodymyr Hnatyuk, Yarych founder. “Our partnership with Horizon Capital is key to our expansion strategy as we aim to boost production to increase our presence in Ukraine and abroad. We will further accelerate our growth by strengthening the position of our Company’s brands in our core market and expand to new market segments, while ensuring we remain the top choice for our consumers.”
During the last few years, Yarych has tripled its export share of revenue to 25 per cent and continues double-digit growth of export sales based on strong demand from international retailers.
