Zhoda Investments expands its wine business in Dalmatia

Zhoda Investments has acquired 50% in Restaurant Filippi, a Michelin-recommended restaurant on the Dalmatian Island of Korcula. The investment is financially attractive with a short pay-back period and has significant operational synergies with Zhoda Investments' wine operations.

"I am glad to announce the investment in Filippi. The restaurant has ambitions of culinary excellence and a great location by the Adriatic Sea. The expected payback period is attractive, but equally important, the investment has strong operational synergies with our wine operations. Firstly, the restaurant will be an important sales channel for the newly launched premium wines from our two wineries. Secondly, we will obtain top-notch restaurant know-how and experience that we can apply to increase business at the tasting facilities and wine shops at Testament Winery and Black Island Winery. This will contribute to high-margin growth", says Robert Karlsson, CEO of Zhoda Investments.

Filippi offers modern Dalmatian cuisine based on local artisan tradition, setting a new standard for Korcula, the same island where Zhoda Investments' Black Island Winery is located. The restaurant has been awarded a Michelin Recommendation five of the six past years. It is located on the embankment in the old town with a magnificent view of the Adriatic Sea. Chef Dragan Kordic was recently recruited from one of Croatia's Michelin star restaurants.

The purchase price for the 50% share amounts to SEK 800,000 and the expected cash payback period is two years. The restaurant (100%) will reach a turnover of approximately SEK 7 million in 2023.

Link to Restaurant Filippi website: www.restaurantfilippi.com
Link to Restaurant Filippi Facebook: https://www.facebook.com/RestaurantFilippis
Attachment: Photos from Restaurant Filippi

For more information, please contact:
Robert Karlsson, CEO Zhoda Investments AB
+46 709 565 141
[email protected]
www.zhodainvestments.com

About Zhoda Investments
Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. In the coastal region of Dalmatia in Croatia, Zhoda owns and manages Testament Winery and Black Island Winery. Based on indigenous organic grapes and a two-thousand-year-old wine tradition, it is Zhoda's award-winning winemakers' objective to create Croatia's best wine and to become the country's leading exporter of premium wines. The vision is to reach a production of one million bottles per year. The group also holds a 45 per cent interest in the Lelyaki oil field in Ukraine with 2P proven and probable oil reserves of 8 million barrels net to the company. Zhoda Investments is actively pursuing new investments. For more information, visit www.zhodainvestments.com.

This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.

Attached files

Restaurant-Filippi-photos.pdf
231019-Zhoda-Investments-expands-its-wine-business-in-Dalmat.docx