Norfund backs Ukrainian biscuit maker Yarych with $10M for factory upgrade
What's the deal? Yarych, a Ukrainian producer of biscuits, crackers, and long-shelf-life confectionery, has raised $10 million in a late-stage round led by Norway's NorfundDealroom has a profile for this one. Try Dealroom →. The money will fund modernisation of its Lviv-region factory, a new pretzel production line, and export expansion.
What's the endgame? Norfund says the investment should help Yarych broaden its product range, enter new categories, and lift sales at home and abroad. The company runs a factory of about 500 staff and makes private-label goods for European retailers BiedronkaDealroom has a profile for this one. Try Dealroom →, AuchanDealroom has a profile for this one. Try Dealroom →, and CarrefourDealroom has a profile for this one. Try Dealroom →, alongside its own brands such as "Марія" and Petit Beurre.
Why now? "We support people whose incomes depend on the factory continuing to operate even during the full-scale war," said Norfund project manager Anastasia Andriievska. Chief executive officer Tetiana Shermolovych called the deal "a signal of trust in Ukrainian business and the resilience of our team."
By the numbers: Yarych posted almost 1.1 billion hryvnia in revenue in 2025, up 12% year on year, according to YouControl. The business, owned by Volodymyr Hnatiuk, has operated since 1986 and drew investment from Horizon CapitalDealroom has a profile for this one. Try Dealroom → in 2018.
The signal: Norfund, owned by the Norwegian government, manages a dedicated Ukraine Investment Fund tied to the country's reconstruction. The $10 million round sits in the smaller tier of tracked deals, but it marks Western development finance moving directly into Ukrainian consumer manufacturing — a bet that regional food producers can keep jobs and grow exports through wartime.
Read more: Retailers.ua
Image credit: YARYCH
