United Milk Company EAD (Bulgaria)

One of Bulgaria's largest dairy processing and packaging company United Milk Company (UMC) was established in 1998 as a sub-holding grouping the seven dairies controlled by local privatisation fund Doverie. The company, a.k.a. Obedinena Mlechna Kompania, produces fresh, fruit-flavoured and UHT milk, yoghurt and cheese products under the Vereya, Fibella, Khansko and Russalka brands. It is one of the largest Bulgarian exporters of cheese to the United States and Russia.
In 2001, UMC merged four of its subsidiaries – the former state-owned dairies in Plovdiv, Burgas, Stara Zagora and Shumen into a single entity to streamline operations. The company later closed the other three dairies purchased by Doverie against vouchers under the government's mass privatisation programme in 1996-97. In March 2003, Greek venture capital fund Global Finance acquired a 48.5% stake in UMC via a EUR 5.1 million capital hike. In February 2004, United Milk Company acquired local milk and yoghurt producer Vitalact Milk, which previously traded under the name Serdika, from Greek ice cream manufacturer Delta Ice Cream S.A. for an undisclosed sum. In June 2005, UMC closed down the milk production unit at Vitalact saying it did not meet EU hygiene and veterinary standards. In April 2007, Greek dairy group Vivartia bought full control of UMC for EUR 18.7 million.