Damianitza AD (Дамяница АД) (Bulgaria)

The Damianitza winery, which was founded in 1958, is a renowned producer of high-quality red wines.
The company, based near the southwestern town of Melnik, exports its wines to Germany, Finland, the Czech Republic, Sweden and other EU member states.
It is also an official importer of Grands Chais De France (GCF) and Lichtenberger Feine Spirituosen GmbH.
The winery has 900 hectares of vineyards with the average age of the vines standing at 20-25 years.
A total of 75% of the vines is broad-leaved vine of Melnik, while 20% is Cabernet Sauvignon and Merlot.
In December 1997, Bulgaria's Industry Ministry sold 78% of Vinprom Damianitza to a management-employee buyout company Izba Damianitza for USD 3.0 million.
Under the contract, a 10% of the sum was paid at the contract signing and the rest is to be paid in annual installments of USD 300,000 by 2007.
The buyer later purchased the remaining 22% state-owned stake.
In February 1998, local company Anglo-Bulgarian Vinters, which is controlled by the publishers of Capital business weekly, acquired the Izba Damianitza buyout after a nine-fold capital hike.
In March 2001, the European Bank for Reconstruction and Development (EBRD) and Isle of Man-registered Europa Capital Management Holdings Ltd. (ECM Holdings Ltd.) acquired stakes in the winery after a capital increase.
After the EUR 715,812 hike, Anglo-Bulgarian Vinters controlled 51% of the winery, EBRD held 32% stake, ECM Holdings Ltd. controlled 10%, while the management-employee buyout had 7.0%.
EBRD withdrew from the winery in 2004 transferring its stake to ECM Holdings.
In 2006 Euromonitor International ranked Damianitza among the top 5 wine producers on the local market.
In 2007 the winery invested some EUR 710,000 in improving the production capacity. The same year Damianitza was certified with ISO 9001:2000.