The owners of the family business "Vitalyur," led by its founder Alexander Yatsuk, have finally abandoned the fish processing direction and are continuing to reorient the business towards real estate, writes the publication "Belarusians and Business".
To finance the new project, the company plans to issue depositary bonds worth 18 million rubles with repayment in 2034. The attracted funds are intended to be used for the construction of a warehouse with refrigeration and freezer facilities. The new facility will appear on a site near Minsk, where a fish production facility was previously located, and later a project for creating a woodworking shop was considered.
The restructuring of the "Vitalyur" business began back in 2023. Then, due to financial difficulties, the company was forced to abandon retail trade. All 62 stores were transferred to the management of "Santa Retail" for 15 years.
In early 2025, the Yatsuk family also closed its unprofitable fish processing production. After this, the company fully focused on the development of real estate projects.
Now the core of this business consists of the premises of former "Vitalyur" stores, which "Santa Retail" uses, as well as a new logistics complex with cold storage warehouses, which is planned to be built with funds from bond issuance.
The company believes that the project will be in demand. The explanation for the bond issue notes that modern warehouses with refrigeration and freezer capacities are in high demand, so their downtime is unlikely. It is also emphasized that relatively high rental rates for such facilities remain on the market.
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