The Ukrainian restaurant chain Lviv Croissants has entered the US market, where it has invested $220 thousand together with a partner to open a bakery and produce frozen croissants in the suburbs of Atlanta, Georgia.
“Lviv Croissants is now in America! The first Lviv Croissants bakery in the United States is located in the suburbs of Atlanta, Georgia, and is already welcoming its first guests. Locals love quality healthy food, and we know how to cook it, so it’s a total match. We also know how to surprise with a variety of flavors, create a friendly atmosphere and a sense of a place where you can be yourself,” the company’s website says.
Lviv Croissants founder Andriy Galytsky told the Forbes Entrepreneurs Forum that the company had been preparing for two years to enter the US market, while it took about five months to prepare for European markets. This is the third expansion of the Ukrainian chain abroad after Poland and Slovakia.
The co-owner and CEO of the American restaurant is a local entrepreneur, Brett Larrabee, whom Galitsky met at a franchise exhibition in New York in 2018. Larrabee has 37 years of experience in restaurant franchising, including the development of the American brands Five Guys, Famous Daves BBQ, Little Caesars, Subway, and Pancheros, Forbes reports.
Lviv Croissants is a Ukrainian international franchise restaurant chain founded in 2015. It specializes in making croissants and has 177 locations in Ukraine, 11 in Poland and 1 in Slovakia. It is part of the Fast Food Franchising Group.
Fast Food Franchising Group LLC was founded in 2015 in Lviv.
The company’s net loss in 2023 amounted to UAH 598.3 thousand compared to UAH 483 thousand of net profit a year earlier. Last year’s revenue increased by 55.1% to UAH 6.939 million, debt increased 9.7 times to UAH 188.9 thousand, while assets decreased by 19% to UAH 1.89 million.
The beneficiaries of the company are PE Firm Infobud, which owns 50% of the shares, Yevhen and Andriy Galitsky (20% each), and Yuriy Zagrodsky (10%).
