Balabanoff - it's a surname of creator of this brand and producer of products.
Surname, presumably, comes from the type of a big hunting falcon - the saker falcon (Falco cherrug). This species breeds from eastern Europe.
In Ukrainian name for this species of falcons sounds like "balaban". "off" - it is just ending that denotes (in Ukrainian) belonging to the genus.
That's why the logo is a bird.