A Ukrainian animal feed producer increased sales abroad and invested €6.55M to expand production in Ukraine and Lithuania.

Kormotech, a pet food company, ended last year with a turnover of $152M, exceeding sales plans by $2M. Sales volume reached 77,400 tons, up 15.7% from 2022.

The company’s sales grew most dynamically in the markets of Romania (35%), Poland (11%), and Moldova (11%). The manufacturer also signed contracts with partners from South Korea and Malaysia, started sales in Finland, and is actively developing efforts in the markets of Spain and Italy, expanding its presence to 42 countries around the world.

In Ukraine, Kormotech retained its industry-leading position (+3% compared to the previous year). The total amount invested in the expansion of production in Ukraine and Lithuania amounts to €6.55M. The expansion helped to produce 73,300 tons of fodder, compared to 59,800 tons in 2022.

The company plans to become one of the thirty global pet food manufacturers leaders and reach a turnover of $500M within five years.