“Zhytomyrmoloko” Sells Cheese Plant to the Rosenblatt Family’s Company: What Is the Value of the Deal?
21 June 17:15
PJSC “Zhytomyrmoloko” plans to sell 100% of the corporate rights in its subsidiary (State Enterprise) “Novograd-Volynskyi Cheese Plant” to PrJSC “Favorit Company,” which is owned by the family of former People’s Deputy Boryslav Rosenblatt, for 47 million hryvnias. This was reported by "Komersant Ukrainian", citing “Interfax-Ukraine.”
The matter will be brought before an extraordinary meeting of Zhytomyrmoloko shareholders on July 3, according to the company’s filing with the National Securities and Stock Market Commission’s disclosure system.
According to the agenda, shareholders will also consider increasing the state-owned enterprise’s authorized capital by 80.1 million hryvnias prior to the sale, which could be achieved by offsetting the debt of the “Novograd-Volynsky Cheese Plant” LLC “KOMO Ukraine,” the rights to which the LLC will previously assign to “Zhytomyrmolok.”
According to the draft resolution, the cheese plant’s authorized capital is planned to be increased to 80.37 million UAH from 0.23 million UAH.
In addition, the meeting will consider the issue of the free-of-charge transfer to the cheese plant of real estate owned by “Zhytomyrmolok,” specifically production buildings with a total area of 22,600 square meters and wastewater treatment facilities in the village of Natalivka, Zhytomyr Oblast.
The agenda also includes a proposal to terminate the mortgage and pledge agreements concluded with Ukreximbank to secure the loan obligations of the “KOMO” Group.
PJSC “Zhytomyrmoloko” is part of the “KOMO” group of companies, one of the largest cheese producers in Ukraine. State Enterprise “Novograd-Volynskyi Cheese Plant” is a production asset of the group.
According to data from YouControl, the state-owned enterprise had no net revenue from product sales in 2025 and the first quarter of 2026. Its net loss for the past year amounted to 3.12 million UAH, and its current liabilities as of March 31 of this year totaled 84.24 million UAH.
According to information in the NSSMC’s disclosure system, 94.9755% of the shares in “Zhytomyrmolok” are owned by the Cypriot company WMG West Milk Limited. Its beneficiaries, according to information in the NSSMC’s disclosure system, are the children of Igor Yeremeyev, a deputy who died in 2015: Sofia and Roman—each holding 23.75%—and Mykhailo Romaniv—holding 47.04%.
According to information on its website, the “Favorit” Group of Companies is a vertically integrated holding company founded in 1994. It encompasses the dairy, construction, hospitality, and service sectors. As noted on the website, the dairy business is a strategic focus of the group and is represented by the Galiivka Butter Plant, located in the village of Galiivka, 75 km from Zhytomyr. The plant produces 50 types of dairy products in 7 categories: butter, soft cheeses, condensed milk, skim milk powder, sweet cream spread, milk-containing cheese product, and milk-containing condensed product. Its stated production capacity is 1,000 metric tons per year.
According to data from YouControl, Favorit Company’s revenue last year grew by 7.1% to 28.08 million UAH, and its net profit amounted to 5.29 million UAH, compared to a net loss of 5.12 million UAH a year earlier.
According to information in the NSSMC’s disclosure system, the owners of “Favorit Company” are Borislav Rosenblat (16%), Zhanna Rosenblat (34%), and Olena Rosenblat (50%).
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