The Chernomorsko Zlato winery, which was put into operation in 1932, is located in the eastern town of Pomorie. The company is engaged in the production of wine, brandy, rakia - a national fruit brandy, and aperitifs. Chernomorsko Zlato produces around 15 million bottles per year and exports account for around 50% of its annual sales.
A 25% stake in the winery was offered for sale against vouchers under the government's mass privatisation programme in 1996-97. In November 1996, Bulgaria's Privatisation Agency sold 55% of Chernomorsko Zlato to local wine and liquor maker Vinprom Pomorie, majority-owned by Varna-based company Festa, for USD 4.32 million. The buyer, which had to pay 50% in cash and the remainder in long-term government securities, pledged to invest USD 3.54 million in the company in a five-year period. Of the remaining 20% of the winery, 15% was offered to employees at a preferential price and 5.0% were set aside to cover property claims by former pre-communist owners.
Pomorie; Burgas; Postal Code: 8200
Contact Details: Purchase the Chernomorsko Zlato AD report to view the information.
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