The Ukrainian waffle cone company Nova Food has entered the EU and Israeli markets in three years. Next on the list are the UK and the US. Interview

Mykola Kobetyak, 49, has been working in the food industry for 22 years. He has risen from merchandiser to factory director. In 2021, Mykola and his brother Oleksandr decided to start their own company to produce waffle cones. They were joined by their friend Oleg Miroshnychenko, who became the main investor, and that is how Nova Food came to be. Today, the company employs 40 Ukrainians, and its annual turnover in 2024 was $1.6 million. The company supplies products to Poland, Lithuania, and Israel, and in the next few years plans to enter the markets of Bulgaria, Great Britain, and the United States. This year, Nova Food was included in the Forbes Ukraine Next 250 list — a ranking of promising small and medium-sized companies that will shape Ukraine's development in the coming years.
In over three years of success, the owners of Nova Food have never given an interview. YBBP journalist Roksana Rublevska was the first to talk to Mykola Kobetyak about his path to becoming a production manager and found out why the market for waffle cones in Ukraine turned out to be a “free niche” and how, during the war, Mykola personally assembled production lines to launch Nova Food.
You are a programmer by profession. Why did you decide to work outside your field, given that in the 2000s, the IT profession was already prestigious in Ukraine?
I graduated from Lviv Polytechnic, worked in my field for a year and a half, but realized that the career prospects of a programmer did not excite me. In 2003, I applied for a job at the Khlibprom concern because I was interested in the food industry. From the very beginning, I had an ambitious goal — I wanted to manage production. I started as a merchandiser. I was given a car and delivered fresh, warm bread to the Fozzy supermarket chain in Lviv. This is, without exaggeration, the lowest rung on the ladder, but I consciously chose this path because I was interested in operational activities.
Within a year, I was working as an assistant to the head of the confectionery department, and then I became the head of it. Later, I was entrusted with opening a new workshop. I worked in logistics, merchandising, sales, studied production technologies, and moved to R&D. There, we created Ukraine's first frozen bakery products workshop — an innovation that allowed supermarkets to bake bread on site. This model was later adopted by other manufacturers. Overall, my path to becoming the director of one of the Khlebprom concern's factories took six years of hard work.
Many people start at the bottom, but stop at mid-level positions. Where did you get the confidence that you would become a top manager when you were only 27 years old?
When I became a workshop manager, I had the unique opportunity to attend most of the top management meetings. The CEO of the company was open to ideas, even those that at first glance had no chance of being implemented. I watched how the top managers worked and learned strategic thinking from them.
Proactive people were given carte blanche: they could turn an idea into a business plan, defend it to financiers, and then present it to the CEO and the commercial department. If the idea was viable, it was implemented. One of my projects was to launch a workshop for fillings for puff pastries. I worked on the project from paper documentation and calculations to test production and delivery to the factory. Another example is my project for the production of pelmeni. I calculated the purchase volumes, selected the equipment, and together with the technologists, we developed the recipe and launched our own workshop for their production.

How long did you work at Khlibprom?
Nine years. From the fourth year onwards, I was effectively managing projects in senior positions. For the last three years, I was the director of one of Khlibprom's eight factories. It specialized in the production of confectionery products — gingerbread, cakes, cookies, and bagels — and employed over 2,000 people. At that time, the factory was unprofitable, so we worked with financiers to calculate the profitability of each department and decided to close the unprofitable ones: the bakery and bagel departments. We had to cut staff, which was one of the most difficult decisions of my career. It was a moment when you realize the full responsibility you have for both people and the business.

How many employees did you lay off at that time, and how did you explain this step to people?
We had to lay off 25% of the staff. I discussed the situation with each employee personally and promised them a future: if the remaining departments developed, we would invite them back. Within two years, I brought back about 15% of the employees. We optimized costs, automated and modernized equipment, focused on areas with growth potential, and in the first year of my leadership, the plant began to turn a profit.
So why did you leave such a high position and change to a formally lower one — production director at another company?

In 2012, the company Lutsk Foods TM Runa made a more attractive offer with better financial conditions and a broader social package. I joined as production director, and within a year I became CEO and worked there for another three years. But my family categorically refused to move to Lutsk. I had a young daughter at the time, and week after week I only came home on weekends.
My experience and reputation allowed me to take a break for a while. I quit and returned to Lviv. Within seven months, I started working at a new company — a waffle cone factory in Novoyavorivsk. Under my leadership, the company grew from one to eight production lines. We invested in equipment, launched new lines, optimized production processes, and established stable sales channels. We gradually expanded our product range, entered new markets, attracted partners, and reinvested profits into development.

In 2021, you became a co-founder of your own company. When did you feel ready?
Actually, my brother Alexander and I had been thinking about it for a long time. He started as a manager at Khlibprom, then worked as a financial director at several companies, and finally started his own business. We trust each other very much. During my last year as production director, I started traveling with him to European factories to look at equipment. Thanks to my work, the company I worked for grew sixfold. And then I realized that we needed to move forward, that my brother and I were ready to start our own business.

However, the three of you founded the company. Tell us, who is your third partner?
Our childhood friend, Oleg, joined Alexander and me. He managed production processes in European companies and had his own business. Oleg said, “I want my money to work in production.” Our roles at this stage are as follows: Oleg is the strategist and main investor, while my brother and I are the strategists and managers responsible for day-to-day operations and production. Our approach is as follows: the company should not grow too rapidly. We could have achieved +70% growth in 2025, but we deliberately stayed at +50%. This is necessary in order to control product quality and minimize risks.

How did you plan to differentiate yourself from existing players?
When I was preparing financial results for shareholders, it was obvious to me that the market was lacking a product. At that time, there were only two factories in Ukraine that manufactured waffle cones for sale. The first was where I worked. The second produced cones for its own ice cream and did not supply anyone else. In fact, there was a shortage of supply in the market. At the same time, Ukrainian demand for ice cream cones was growing by 20% every year. There was a prospect for export: the cost of Ukrainian cones was several times lower than European ones. It was at this moment that I decided to open my own factory. The process began at the end of 2021: we purchased equipment and prepared production lines.

Did you need to come up with a unique recipe and patent it to stand out from the competition?
This niche operates on a completely different logic. If you want to enter the market and become a supplier to large ice cream manufacturers, the composition cannot be different. These companies already have ready-made texts on their packaging, and any change in ingredients means that all old packaging stocks will have to be discarded and new ones ordered.
That would be astronomical costs. Therefore, the manufacturer of ice cream cones has to adapt to the existing recipe. Success lies not in a unique composition, but in quality, price, and the ability to ensure uninterrupted volumes.


If I start producing Coca-Cola, I will violate Coca-Cola's rights because the composition is the same. Is everything different in your business?
Yes. Coca-Cola is a brand and a patented recipe. You cannot copy it, otherwise you will violate the law. But in our segment, a patent for the composition is not required. Bread and waffle cones are basic products. The customer gives us the specifications for their cones, and we produce them according to those specifications. The Ukrainian market is standardized—all cones are the same. In Europe, recipes vary from factory to factory, so we adapt to each specific customer.

Where is your business located now?
We have premises with a total area of over 2,500 square meters. The horn production line produces more than 100 million horns per year.

Has Nova Food's business model changed since Russia's full-scale invasion of Ukraine?
Yes, partially. In May 2022, Italian and German equipment was delivered to us. But because of the war, the Italian and German technicians refused to come here to install it. We offered them accommodation in Poland, daily transportation, and three times their usual fee, but they refused because of the danger. Ukrainian contractors helped us assemble the first line, and my brother and I assembled the second line ourselves.

What does the line look like overall?
Imagine the height of a nine-story building — that's the length of the production line. Everything happens on it: dough feeding, baking, forming twisted waffle cones, cooling, and packaging.

How long did it take you to assemble the line? How did you know how to do it?
A month and a half. For comparison, a German engineer who worked for the company and knew all the nuances would have assembled it in two weeks and spent another two weeks training the staff to work with it. At first, I thought I couldn't do without instructions, but when I started assembling it, everything turned out to be logical: the boxes were numbered, and you do everything step by step, like IKEA furniture. We launched our first products in early July 2022. These were small batches that we sold to our first customers as a test for potential future cooperation. Because of this, we didn't actually sell anything in 2022.

You started selling in January 2023. Who was the first to buy?
It was the company Three Bears, to whom we are very grateful for believing in us. They also have a factory in Poland under the Nordis brand. I knew the market well, and obviously, I had open communication with the top managers of all ice cream manufacturers, including this one. Therefore, I was able to establish contact quickly, present our factory, and offer our products and mutually beneficial cooperation.

The details of the agreements are, of course, a trade secret.
When we made an offer with a significantly lower price, customers often couldn't understand: “Something's wrong, are you changing something or cheating?” There were bad rumors about us — that we were working underground and not paying taxes. In fact, we decided from the very beginning to work transparently. We simply have a modern and efficient line that employs no more than 35 workers at full capacity and requires significantly less energy and maintenance than our competitors. This affects the cost price.

How much does your equipment cost? And how many lines do you have now?
We spent over $1.5 million on equipment. In addition, there is equipment for children's cookies and various decorative elements for ice cream. Every autumn, we have to shut down the factory for two weeks to replace consumables. The equipment is new, durable, and high-quality. Its manufacturers are leading companies in their industries in Germany and Italy.

Did you use any government support programs?
Yes, we received ₴1.6 million from the government, but we committed to adding the same amount from our own funds. In total, we had ₴3.2 million to invest in additional equipment. In return, the state required us to hire five employees, which we needed anyway because we were already growing, and to repay these funds through taxes and mandatory contributions. We did this ahead of schedule. In addition, we are successfully using the “Affordable Loans 5-7-9%” program, with the support of Oschadbank.

You said that you considered moving production abroad, but stayed in Ukraine. Why?
We already had one production line rebuilt, and the main thing was the desire to work in Ukraine, create jobs here, fill the budget, and make our own contribution to our future victory.
How did Europe react to your appearance in general?

When we distributed our products in Europe at B2B exhibitions, we encountered prejudice. First, Europeans were afraid of Ukrainians at the time: no one wanted to sign contracts because there was a force majeure clause, which is war. Second, we were a young company. European factories generally do not respond to initial letters or calls. If they do not know you personally, there is no chance. We took boxes of products and went to the exhibition. Where there were ice cream manufacturers, we approached them and offered them a taste of our product.
But you yourself said that your ice cream cone is no different from others. So what exactly was supposed to “hook” the buyer if the product is similar to others, just cheaper?
I was talking about the fact that the recipe and manufacturing method are no different. And that was our goal — to make sure it was no worse. For example, Romanian cones are cheap, but their quality is lower than that of European ones.
We have new equipment, so the grid is clear, the size is uniform, and there are no white spots. These are the basic things that ice cream manufacturers immediately notice. The edge of the cone is also very important — where it is rolled up. If the edge bends, the cone is considered defective. We don't have this problem.

When the full-scale war began, did you think you would have to work more for export, since cones are not a staple product?
We really hoped so. But the reality turned out to be more complicated. When the war began and we started actively supplying our products to ice cream factories in Europe, the Europeans chose to bargain. They understood that we had no other choice and were forced to agree to any conditions. When we offered a price, they said, “No, we need it even cheaper.” In general, Europeans, in my opinion, are quite conservative and very reluctant to open up to new partnerships. At that time, they were obviously assessing the risks and told us directly: “If you want to start working with us, we are not interested in a 5% discount, but at least 20-30%.” Obviously, we did not agree to such conditions, started working on the domestic market, and looked for mutually beneficial partnerships.

So, when did you first enter the foreign market, and with what product?
It was 2023. We didn't start with cones, but with Brownie cookies — crushed cookies that are sprinkled on ice cream in bowls or cones. Our first foreign customer was a large Lithuanian company called Dione. It all started with an exhibition: my brother Alexander was there and handed out small presentation boxes with our product. The Lithuanians approached us themselves. They already had a similar product and sent us their specifications. We redesigned our product to match their ingredients, made a prototype, and sent it to them for approval. This is our standard practice to avoid mistakes with technology. After a successful start with the Lithuanians, we began working with Polish partners in early 2024. In Poland, we work only through distributors for HoReCa. We do not yet work directly with factories.

Is it true that you sometimes sell for export at a much lower price than in Ukraine?
Yes. But considering that export operations bring us additional financial benefits, in particular due to the absence of VAT, this compensates for the slightly lower price. Also, our foreign partners pay for products immediately, without delay, unlike many local customers who are used to receiving goods and paying later.

Are there any changes in food regulation in the EU that make it difficult to enter European markets?
No, the mechanism is actually very simple. Last year, we were inspected by the Germans, and this year by the Belgians, and we were issued an international certificate confirming that we comply with ISO 22000 standards. It is also mandatory in Ukraine.

In which markets, apart from Poland and Lithuania, are you already present?
In Israel, but there we operate through a distributor who mainly works in the HoReCa market. We also manufacture cones for him for B2C, pack them in boxes, and he sells them in supermarkets. I cannot name the exact location: perhaps it is only Israel, perhaps the distributor resells to other countries. He does not have to report to us. This product has its own specifics, because we receive a kosher certificate for each batch.

What market segments do you currently serve?
The markets where we sell are divided into four segments. The first and most important for us is B2B partnerships with ice cream factories. We set the price for this segment based on order volumes, payment deferrals, previous cooperation, and future plans. We approve the terms for the entire next season so that both parties can plan conveniently. The second segment is distributors in the domestic and foreign markets in the HoReCa sector. The third is contract manufacturing, where we are represented as a manufacturer of high-quality products under someone else's trademark to order.

The fourth segment is the last in terms of share in total sales, but it is one of the largest in terms of potential growth and scaling — this is B2C, where we are represented as a manufacturer of the final product under our own brand through national retail chains. In this segment, we set prices based on product margins and marketing costs.
We only tried B2C this year: we entered Fozzy with a family box of ice cream cones. In fact, we are accustoming Ukrainian consumers to the format that exists in Europe and the US. There, people buy a separate box of cones, take ice cream, add toppings, sprinkles, berries — and it becomes a family tradition. Buying ready-made ice cream in a cone is more expensive. But there is a nuance: in B2C, the money only comes back after six months. This is to be expected, but you have to be prepared for it. We are not yet competing with giants such as ATB, which has over 1,500 supermarkets. First, we want to work out the process first. Second, there may be sharp jumps in volumes that are difficult to cover. After all, it is not enough to just make the bagel; it also has to be wrapped in plastic, placed in a box, dated, packed into larger boxes, labeled, assembled on a pallet, and shipped.

What is the current percentage distribution between B2B and B2C? And how much of the product goes to the domestic market and how much is exported?
B2C accounts for 1%, about 150 supermarkets, and we independently invested in 150 stands in supermarkets for our product. 99% of our sales are B2B. Approximately 85% of our products go to the domestic market and about 15% are exported.

Tell us how you plan to enter the US market.
It all started with a program for Ukrainian businesspeople at Stanford University called Stanford Ignite Ukraine. My brother met potential partners there. They wanted to order a very small cone from us — 60 mm. And they are ready to buy as many as we can make. However, our line is designed for cones ranging from 85 to 160 mm. This raises the question: should we invest in a new line or not? The US market is huge, we already have potential partners, but we are currently limited in terms of technology. Still, we are leaning towards giving it a try.

Why are those few centimeters so important for the American market?
It's very simple: every additional 2 cm of cone increases the weight of the ice cream. Americans sell small portions at a high price. If you give them more, you have to put more ice cream in, and that's not profitable for them. Americans have everything figured out down to the millimeter.

What new markets, besides the US, are you targeting?
There are requests from Bulgaria, Latvia, Moldova, and the Middle East. I was recently in the UK. We were invited with a delegation from local governments: deputies and mayors from western Ukraine took part in the Royal Norfolk Show. It is the largest agricultural exhibition in Norfolk, and we had the honor of meeting His Royal Highness Prince Edward. We were promised invitations to local B2B exhibitions with our own products, introductions to representatives of British chambers of commerce and industry in various regions, and assistance in establishing contacts among business representatives in that country.

What is specific about the product for the British market?
They like everything to smell like oil, which means you have to use it, which automatically reduces its shelf life (our horn can be stored for 2 years). This raises the question of logistics: how to deliver the product to Britain, how long it can be stored, what to do with returns. It is an interesting but rather complex market, and it cannot be conquered quickly. However, we are currently in the process of developing a strategy to enter this market.