April 19 (SeeNews) - Swedish investment company Zhoda Investments said on Tuesday it plans to use part of the proceeds of its planned preferential rights issue of 13 million Swedish crowns ($1.4 million/1.3 million euro) for investments in its Croatian winery.
“The issue will enable the company to take the successful wine operations in Croatia to the next level, to maintain and with time develop the oil operations in Ukraine and to strengthen the financial position of the company,” the CEO of Zhoda Investments, Robert Karlsson, said in a statement.
He did not elaborate the size of the investments.
“In a short period of time, Zhoda has established Testament Winery as one of Croatia’s leading and most innovative wineries. We have built a strong brand and managed to double sales each of the four last years to 200,000 bottles in 2021,” he added.
Testament Winery is Croatia’s first Swedish winery on Croatia’s fragmented wine market.
Following the Vatican State and Andorra, Croatia is the world’s third largest consumer of wine per capita.
(1 euro= 10.345 Swedish crowns)