Zhoda acquires the remaining 20 per cent in an organic producer of red premium wines in DalmatiaApproximately one year ago, Zhoda Investments ("Zhoda") acquired 80 per cent of an organic producer of red premium wines on the Dalmatian coast of Croatia. Operations have developed well since then and Zhoda has now entered into an agreement with the founder to acquire the outstanding 20 per cent of the shares. The purchase price amounts to approximately SEK 1.8 million and Zhoda will now become the 100 per cent owner of the company. "A year has passed and I am extremely pleased with our investment in the organic winery in Dalmatia. The vineyard consisting primarily of the indigenous red wine grape Babic has been exemplary kept. We have made investments in the winery to increase both capacity and the quality of the wines. This enabled the company to vinify the entire grape harvest for the first time. It is a natural step for us to complete the acquisition and become 100 per cent owner of the business", says Robert Karlsson, CEO of Zhoda Investments.
The founder and seller has established an especially well planned and kept organic vineyard covering 47 hectares sloping down towards the Adriatic Sea. The dry and harsh limestone beds on the barren hillsides are essential for the Babic grape to develop its superb balance between sugar and fresh acidity, so suitable for production of Dalmatian premium wines. Zhoda has recruited one of Dalmatia's leading enologists and experts on indigenous grapes to replace the founder in operations and to take the company towards its vision of 1 million bottles of premium wine per year.
The purchase price amounts to approximately SEK 1.8 million and the acquisition was made at the same company valuation as the original 80 per cent.
This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail. Stockholm, 4 May 2018 For more information, please contact:
Robert Karlsson, CEO Zhoda Investments AB
+46 709 565 141, [email protected]
www.zhodainvestments.com
The following documents can be retrieved from beQuoted
Zhoda Investments Pressrelease 2018-05-04 English.pdf About Zhoda Investments
Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. Zhoda owns a Dalmatian organic winery with a 47 hectare state of the art vineyard producing red wine from the local Babic grape. Zhoda also owns a winery on the Dalmatian island of Korcula that produces white premium wines from the indigenous Posip grape. The group also holds a 45 per cent in the Lelyaki oil field in Ukraine with 2P proven and probable oil reserves of 8 million barrels net to the company. Zhoda Investments is actively pursuing new investments. The company's shares are traded on Pareto Securities OTC. For more information, visit www.zhodainvestments.com.
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