Norwegian investment fund Norfund will invest $10 million in Ukrainian biscuit and cracker manufacturer Yarych to modernize its factory in Lviv region and launch a new pretzel production line.
According to Norfund, the investment will help the company enter new product categories, increase production capacity, and expand sales in Ukraine and international markets.
"This investment is a strong signal of confidence in Ukrainian business and in the resilience of our team. It will support further expansion into new product categories and continued growth in both Ukrainian and export markets," said Yarych CEO Tetiana Shermolovych.
The Yarych factory in Lviv region employs around 500 people and supplies products to the Ukrainian market as well as European retailers, including private-label products for Biedronka, Auchan, and Carrefour.
"With this investment, we are not just supporting growth. We are supporting people whose livelihoods depend on this factory continuing to run, even amidst a full-scale war," said Norfund project manager Anastasiia Andriievska.
The company produces long-shelf-life biscuits, crackers, and flour-based confectionery products. Its brands include Maria, Petit Beurre, Matusyne, and La Siesta.
The Yarych factory has operated since 1986. It was initially part of the Lviv confectionery factory Svitoch, later became part of Nestlé in 2000, and was transformed into the Yarych brand after being acquired by Volodymyr Hnatiuk in 2008. Investment company Horizon Capital became a partner in 2018. According to YouControl data, Yarych generated nearly UAH 1.1 billion in revenue in 2025, which was 12% higher than the previous year.
Norfund is Norway’s state-owned investment fund focused on developing countries. It also manages the Ukraine Investment Fund, which finances business and infrastructure projects related to Ukraine’s reconstruction.
