Yarych Group, the leading Ukrainian manufacturer of the hard-dough biscuits and crackers, has secured USD 10 million investment from Norfund, the Norwegian Investment Fund for Developing Countries established by the Government of Norway.

The investment will be used to support the company’s further growth, including the increase in production capacity, expanding and diversification of its product portfolio, as well as the strengthening of its export presence in the European Union and other international markets.

“We are happy to welcome Norfund as Yarych’s financial partner. Norfund is not merely a source of financing, but a partner with a long-term vision and a deep understanding of our industry, the role of business in creating jobs, and the importance of supporting economic resilience. The investment will enable us to move forward with confidence - developing our production, expanding our product portfolio and increasing exports to new markets,” said Tetiana Shermolovych, CEO of Yarych Group.

For Yarych, this investment represents both a resource for growth and a strong signal of trust from an international financial partner in the Ukrainian company and its team.

“Yarych’s impressive development in recent years despite the war reflects the strength and commitment of its management, entrepreneur and owners. Supporting strong teams and helping promising companies grow further is a key part of Norfund’s investment approach,” says Anastasiia Andriievska, Project Manager for the investment at Norfund.

Yarych also extends its gratitude to the Horizon Capital team, which has supported the company’s development for many years.

“We are sincerely grateful to the Horizon Capital team, and personally to Lenna Koszarny and Dmytro Boroday, for their professional partnership, trust and support. This chapter helped Yarych become a stronger and more structured company, ready for further scaling. We deeply value everything we have built together,” added Tetiana Shermolovych.

“We are proud to have been Yarych’s partner at an important stage of the company’s development. Over the course of our partnership, the company significantly strengthened its market position, modernised its production, enhanced its corporate governance and demonstrated its ability to successfully scale the business even amid unprecedented challenges for Ukraine. Securing investment from Norfund is a logical continuation of this growth story and a testament to the high quality of Yarych’s business and the strength of its team. We are confident that the company has every foundation in place for further growth and for strengthening its position in international markets,” said Dmytro Borodai, Partner at Horizon Capital.

The investment deal was advised by financial advisor Soul Partners, working alongside the Yarych team, to whom the Company is grateful for their work on its completion.

A new chapter now lies ahead for Yarych: growing production, expanding its product range, and strengthening the position of Ukrainian products in markets around the world.