Expansion of the Romanian pet food market observed, with Kormotech Global's Managing Director for CEE, Yuriy Bykoriz, aiming to acquire more than 10% of the market share.
Kormotech Expands Globally While Maintaining a Commitment to Social Responsibility
Kormotech, a family-owned Ukrainian pet food company, has made significant strides in the global pet food industry. Founded in 2003, Kormotech has grown to become the largest pet food manufacturer in Ukraine, specializing in high-quality food for cats and dogs [1].
The company's success story is marked by steady growth, transforming from a Ukrainian family business into a notable global player. Kormotech's international presence has facilitated the building of strong brand loyalty and clientele around the world [2].
In a strategic move, Kormotech recently secured €40 million in funding from the European Bank for Reconstruction and Development to build its second factory in Lithuania. By 2028, the company aims to introduce four new production lines for wet pet food in this plant [1].
Kormotech's expansion is not limited to production. The company seeks individuals who are capable of evaluating the market, analyzing the competitive environment, generating new ideas, and meeting objectives. To achieve this, Kormotech creates regional teams by hiring local experts with a strong understanding of the local pet food market, while integrating the experience of the Ukrainian team [1].
In Romania, where the pet food market is experiencing an annual growth of 9.4%, with imports increasing by 2.8% each year, Kormotech is well-positioned to fulfill the expanding demand for cat and dog food. About 90% of pet owners in Romania consider their pets as family members or companions, investing in premium brands and natural ingredients [1].
Kormotech's commitment to growth extends beyond business. The company has been actively involved in charitable initiatives, especially in response to the challenges faced by Ukraine during war. For instance, Kormotech launched the "Save Pets of Ukraine" initiative to support animals affected by the conflict [1].
The company has also collaborated with humanitarian organizations like the Voices of Children Foundation to create pet-friendly family rooms in hospitals located in frontline areas and provide psychological support to families affected by the war [1].
Kormotech's future goals include ranking among the top 30 world's largest pet food manufacturers by 2023, a significant leap from its current 49th position [1]. Establishing long-term relationships with business partners is based on demonstrating mutual trustworthiness.
In conclusion, Kormotech's history is marked by steady growth from a Ukrainian family business to a notable global pet food producer, along with a significant commitment to social responsibility and humanitarian support aligned with current events in Ukraine [1][2].
- Kormotech, with its focus on expansion, is seeking individuals who can bring expertise in finance and investing, helping the company to make strategic business decisions and secure further funding for growth.
- While growing its business globally, Kormotech also prioritizes investing in social responsibility initiatives, such as supporting pets affected by war and collaborating with humanitarian organizations, demonstrating a commitment to lifestyle values that extend beyond the pet food industry.
