Norway’s state investment fund Norfund will allocate $10 million to the development of Ukrainian biscuit and cracker producer Yarych. The funds will be used to modernize the company’s production facilities in Lviv Region and launch a new pretzel production line, according to Norfund.
The investment project will enable the company to expand its product range, enter new product categories and increase sales both in the domestic Ukrainian market and in export destinations. Yarych CEO Tetiana Shermolovych said that attracting financing from Norfund demonstrates the trust of international investors in Ukrainian business and confirms the resilience of the company, which continues to operate amid the full-scale war.
Yarych’s production site, located in Lviv Region, employs around 500 people. The company specializes in the production of biscuits, crackers and other long-shelf-life flour confectionery products. In addition to products for the Ukrainian market, the company actively cooperates with European retail chains, producing private label goods for retailers such as Biedronka, Auchan and Carrefour.
According to Norfund project manager Anastasiia Andriievska, the investment is aimed not only at developing production capacity, but also at supporting jobs and the company’s resilience in wartime conditions. She emphasized that the fund supports companies whose activities provide income for hundreds of Ukrainian families and help preserve economic activity in the country.
The company produces goods under the Mariia, Petit Beurre, Matusyne and La Siesta brands.
The company’s history began in 1986, when the factory operated as part of the Lviv confectionery factory Svitoch. In 2000, the enterprise came under the control of Nestlé, and after its sale to entrepreneur Volodymyr Hnatiuk in 2008, it began operating under the Yarych brand. In 2018, investment fund Horizon Capital entered the company’s capital.
According to YouControl, in 2025 Yarych Confectionery Factory LLC increased its revenue to almost UAH 1.1 billion, up 12% compared with the previous year. The owner of the enterprise is Volodymyr Hnatiuk.
Norfund is Norway’s state investment fund operating in developing countries. The fund is owned by the Norwegian government and manages the Ukraine Investment Fund, which finances business projects and infrastructure initiatives aimed at rebuilding and developing Ukraine’s economy. The investment in Yarych is another project by the fund to support Ukraine’s private sector and expand the production potential of domestic enterprises.
