VITALACT ACQUIRED BY UNITED DAIRY COMPANY
United Dairy Company AD, which owns enterprises for processing of milk in the towns of Plovdiv, Shoumen, Bourgas and Stara Zagora, has purchased Vitalact Milk AD from the Greek company Delta Ice Cream. The news was broken on Wednesday (February 18). The Varna-based Vitalact Milk produces milk and yoghurt and has distribution branches in Sofia, Plovdiv and Varna. It was separated from the company Vitalact on June 18, 2003. The enterprise's proceeds from sales in 2003 exceed EUR3.2MN. United Dairy Company (with EUR11MN-plus sales proceeds last year) will keep the managerial team, personell and products of Vitalact Milk, the holding company specified. In that way United Dairy Company will have a distribution network in the four biggest Bulgarian towns and will be able to get milk from most of the dairy resgions in the country. As of March 2003 Global Finance and Doverie Capital have been jointly managing United Bulgarian Company. Global Finance is the top investment fundin Southeastern Europe, whose portfolio exceeds EUR400MN. A third of that amount is earmarked for share financing in the Balkan countries. Last March the company invested almost BGN10MN in United Bulgarian Company, increasing its shareholder capital. The investment was made through the Black Sea Global Finance Fund and the money was earmarked for implementation of the investment progarmme. Doveria Capital AD is a holding company within the structure of Doverie United Holding AD. In addition to United Dairy Company, Doverie Capital holds and manages majority packages of shares in Medica AD, Doverie Briko AD (specialized in retail trade), and in the on-line shop for office goods Office.bg.United Dairy Company is among the three leaders on the domestic milk market, producers and distributors of yoghurt. It owns the trade marks Fibela, Vereya, Roussalka and Hansko.