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Domaine Boyar's founder sells stake to majority shareholder

Wed, Dec 15 2010 09:35 CET

byDnevnik.bg

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Domaine Boyar's founder sells stake to majority shareholder

Margarit Todorov

Photo: Nikolai Doichinov

Bulgarian businessman Margarit Todorov has sold his 48 per cent stake in wine maker Domaine Boyar to the company's majority shareholder, Santa Ana Ventures, which is registered in the British Virgin Islands, the company said on December 14 2010.

Todorov has also pulled out from the company's management, with board member Tsanko Stanchev also following suit.

Todorov is the founder of Domaine Boyar, a company engaged in wine production and distribution, ranking among the country's top wine exporters to the UK in terms of sales.

Evgeni Harmanliyski, who managed the company together with Todorov, will continue to serve as executive director at the firm.

Vladislav Tanchev, who become part of Domaine Boyar's team in 2007, will join the company's board of directors and will be in charge of business development, new products, sales and marketing.

Following plans to beef up its position on the domestic market, the company will resume wine production at its factory in Shoumen, which was closed two years ago, and will also invest 440 000 leva in its factory in Korten in 2011.

Domaine Boyar currently produces most of its wine at the Sinite Skali winery in Sliven, southeastern Bulgaria.

Source: Dnevnik.bg

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Comments

Anonymous Anon Wed, Dec 15 2010 18:38 CET
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People should boycott the products of companies like this who want to do business in Bulgaria but not pay taxes here.

They are not just cheating the government but ordinary Bulgarians who have to pay higher taxes as a result.


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