The state-owned Ukreximbank (Kyiv) provided a EUR 3.2 million loan to Kostopil Glassworks LLC (KSZ) to acquire a stake in the regional brewery PrJSC Khmelpyvo.
“The acquisition of a stake in PJSC Khmelpyvo will be a logical step in diversifying the business and optimizing production chains,” the bank said.
The financial institution emphasized that the financing is intended to support the Ukrainian glass container manufacturer in expanding its business and entering the beer market. The agreement will also contribute to strengthening vertical integration between the production of packaging containers and finished food products.
According to the NBU, as of April 2025, Ukreximbank ranked third in terms of total assets among 60 operating banks with UAH 311.8 billion. The bank’s net profit for the first quarter of 2025 increased by 26% to UAH 2.4 billion.
A large manufacturer of glass containers, Kostopil Glassworks (KZS, Rivne region), is in the process of acquiring PJSC Khmelnytsky Regional Brewery (Khmelpyvo, TM Proskurivske, Khmelnytske), a regional beer producer.
As reported, on May 22, the Antimonopoly Committee of Ukraine granted KZS permission to acquire control over PJSC Khmelpyvo. According to the information disclosure system of the National Securities and Stock Market Commission, the main shareholder of Khmelpyvo, with a 78.0286% stake, is the company’s director, Oleksandr Lysyuk. The company has convened an extraordinary shareholders’ meeting on June 13, at which the supervisory board headed by Lysyuk will be dismissed and replaced by a new one headed by the chairman of the Federation of Employers of Ukraine, Dmytro Oliynyk, who owns 19.46% of KZS and, together with his family, 49.53%.
In 2024, Khmelpyvo increased its revenue by 2.8% to UAH 146.41 million and reduced its net profit by 3.9% to UAH 76.86 million. At the meeting on April 8 this year, the issue of allocating all profits to the technical re-equipment of the company was raised.
At the beginning of this year, its equity capital amounted to UAH 547.97 million, cash – UAH 326.04 million, assets – UAH 559.4 million, and the number of employees – 125.
Kostopil Glassworks is one of the largest industrial enterprises in the Rivne region and is one of the five largest manufacturers of glass containers in Ukraine. The company ended 2024 with a net profit of UAH 76.5 million, which is 6.6 times less than in 2023, and its net income decreased by 18% to UAH 1 billion 467.8 million.
The main products of KSZ are beverage containers (91% of last year’s production), with bottles accounting for 9%. According to the plant, last year 51% of its products (UAH 755.3 million) were exported, in particular to Poland, Hungary, Romania, Bulgaria, Slovakia, Moldova, Lithuania, Latvia, and Estonia.
KZS reported that it plans to increase glass container production by 10-15% annually and increase sales accordingly. As of early 2025, the plant employed 503 people.
According to YouControl, Oliinyk owns 19.46% of KZS LLC, his family members Tetyana, Kyrylo, and Ivan Oliinyk own 16.27% and 6.9% respectively, another 22% belongs to the Bulgarian company Fisherman Investments, 9.06% to Andriy Rybitsky, 4.85% each to Anatoliy Kucheruk, Leonid Smilyanets, Andriy Filimonuk, and a private enterprise, the Sava firm.
