EBRD INVESTS IN TIKVES
The European Bank for Reconstruction and Development (EBRD) is investing Euro 6 million through a capital increase in the leading Macedonian wine producer Tikves a.d. to further enhance the company's operations through improvements in the quality and selection of wines and to boost its competitive position.
The investment will also increase competition within the wine sector throughout the whole Western Balkans region.
The funding will be used to provide the company with a sustainable financial basis for future growth by funding further modernisation investments and increasing the company’s visibility, while building on Tikves’ existing strong brand-name and its distribution network in the country and the whole region. The capital increase, as well as the appointment of EBRD senior banker Mrs Vedrana Jelusic-Kasic to the Supervisory Board of Tikves a.d., was approved by the company’s shareholders’ meeting on 31 October 2008.
Tikves has an annual processing capacity of 50 million kilograms of grapes and a production capacity of 35 million litres of wine and exports more than half of its production mainly to the former Yugoslav countries, with the other half going to Russia, and other European countries. To date, the company has won around 2,000 quality awards for its wines on domestic and international fairs and is most known for its brands T’ga za jug and Alexandria.
Tikves is the only winery in Europe outside of France or Italy to be named a world brand.