Ukrainian startup Rekava has finalized the sale of its eco-candle production division to Lviv Candle Manufactory, a company operating in the candle market since 2013. As explained by Rekava co-founder Yurii Tustanovskyi, the decision was part of a deliberate strategy to focus on the company’s core expertise—developing and scaling ecological recycling technologies.
Before finalizing the deal, Rekava held negotiations with seven potential buyers. The terms of the transaction, including the valuation, remain undisclosed.
Following the acquisition, Lviv Candle Manufactory will become the exclusive buyer of candle containers made from coffee grounds and will continue selling them under its portfolio. According to Andrii Sydor, CEO and co-founder of Lviv Candle Manufactory, this acquisition will enhance the company’s corporate gifting segment and allow it to offer innovative eco-conscious gift solutions. The Rekava Candles brand will remain active in the Ukrainian market until at least the end of 2025. In Europe, the product line will be integrated into the company’s existing brand as a dedicated eco line.
Rekava will reinvest the proceeds from the sale into the development of eco-friendly disposable tableware, currently in the pre-production phase. The startup has already secured preliminary agreements for long-term cooperation with distribution partners.
Rekava’s team will support the transition process for several months post-sale, assisting the new owners with operational handover and distributor relations.
Founded in 2021 in Sumy, Rekava is a Ukrainian CleanTech startup established by Yurii Tustanovskyi and Dmytro Bidiuk. The company develops biodegradable products made from recycled coffee grounds using a zero-waste, fully organic manufacturing process.
Eco-candle production was launched after the full-scale invasion, as Rekava shifted focus due to the challenges of scaling its core technology. By 2025, candles accounted for up to 80% of the company’s revenue, distributed via the company website, social media, and a network of 25 distributors, including TSUM, Brocard Ukraine, and Peek & Cloppenburg in Germany. At the time of sale, exports represented approximately 25% of sales, with the candle line demonstrating year-over-year revenue doubling.
Lviv Candle Manufactory is a family-run business founded by Andrii and Oksana Sydor, also known for establishing DikArt Creative Marketing. Headquartered in Lviv, the company operates its own manufacturing facility and opened a showroom in Vienna in 2022. In 2024, the business generated UAH 10 million in domestic revenue and €220,000 from European markets.
