Horizon Capital invests in Ukrainian biscuit producer
In the past two years, Yarych has been one of the fastest growing exporters of biscuits from the Ukraine, trebling its export share of revenue to 25% and continuing double-digit growth of export sales based on strong demand from international retailers.
Today, Yarych holds a 33% share of the packaged biscuit market in Ukraine and can also be found in most major European retail chains.
The brand was launched in 2010 after its founder, Volodymyr Hnatyuk, acquired the Ukrainian factory from Nestlé.
He retained Nestlé’s business model, achieved an international recognized food standard and has seen production capacity grow from 7k tons in 2010 to over 13k tons in 2016.
Low in fat and sugar
Its products, including brands like Maria, petit beurre and The Crackers, as well as private label biscuits – are low in sugar and fat content, making them ideal for children and adults who keep track of their health.
Yarych is one of the few IFS-certified confectionery producers in the Ukraine with regulatory approvals in place to enable exports to the European Union.
Coupled with its extensive in-house product development expertise, it has aggressive plans to grow its distribution network in the Central and Eastern Europe (CEE) region.
“Our partnership with Horizon is key to our expansion strategy as we aim to boost production to increase our presence in Ukraine and abroad,” said Hnatyuk.
“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.”
Kiyiv-based Horizon Capital was founded in 2006 by four founding partners who began their collaboration with Western NIS Enterprise Fund (WNISEF), a $150m fund focused on Ukraine and Moldova.
Currently, Horizon manages three funds, Emerging Europe Growth Fund II (EEGF II), Emerging Europe Growth Fund (EEGF) and WNISEF, with over $600m under management.