The Greek wine group, Boutaris, has begun to implement the merger of three subsidiaries, Ktima Kyr Yanni, Vegoritis and General Wine Company, according to reports. The merged entity will be known as Kyr Yanni.
The merger is expected to be completed by the end of the month. The merged company will market 10 different wine brands and control some 500,000 sq m of vineyards in Naoussa in northern Greece.
Go deeper with GlobalData
Boutaris is forecasting turnover of €2.5m (US$2.7m) for the fiscal year to the end of June 2003, against €2.2m (US$2.3m) in the year before. The company exports 20% to 25% of its annual production. Boutaris has earmarked €600,000 for investment in expanding its vineyards during 2003.
