Vinex-Slavyantsi AD (Bulgaria)

Bulgarian wine firm Vinex Slavyantsi, which is located in the Sungurlare valley, is involved in purchasing grapes and other fruit and in producing and bottling wine and brandy for the domestic market and abroad. Until 1990, the company operated as a part of DSO "Vinprom". In 1996 it was transformed firstly in Limited Liability company and then in joint stock company.
The winery operates five wine cellars for grape processing and vinification located at Slavyantsi, Sungurlare, Karnobat, Lozarevo and Chernitsa. These cellars process between 25,000 and 30,000 tonnes of grape annually. The company also has two plants for stabilisation and bottling of table and sparkling wines and one plant for production and bottling of Vermouths, grape and white brandies.
Vinex Slavyantsi bottles and sells about 20 million bottles annually and exports its production to England, Sweden, Finland, Denmark, Belgium, Germany, Poland, Switzerland, the Czech Republic, Slovakia Norway, the Netherlands, Japan, Lebanon, Russia and Georgia.
In May 1996, Bulgaria's Privatisation Agency sold 51% of the company to a management-employee buyout, Vinex Slavyantsi 95 AD, for USD 1.078 million. Under the deal, 30% of the price was paid in cash, while the remaining 70% were paid in government bonds. The buyer, which grouped over 230 employees, pledged to invest USD 620,000 in the winery over the next five years.