EY Published the First Family Business Book in Bulgaria

The consultancy company EY Bulgaria in partnership with the Family Business Network published the first Family Business Book in Bulgaria. The Family Business Book in Bulgaria 2017 brings together the stories of eight of the most successful family businesses in the country.

After more than 25 years of modern market economy, Bulgaria has its strong examples of sustainably run family businesses that have taken upon the challenge of moving the business forward to the next generation. The companies included in the Family Business Book come from different industries, they are innovators and, very often, market leaders. And all of them have gone through a number of challenges that have helped them grow and mature. The main purpose of the book is to showcase the good examples of sustainable family businesses in Bulgaria and to raise the awareness of the importance of family businesses in general.

“I am happy that in 2017 we managed to collect and publish the outstanding stories of successful Bulgarian businesses. EY is a company that traditionally supports family businesses in their pursuit for sustainable long-term success and well-measured risk. Today we know that it is the entrepreneurship of the family companies that can support Bulgaria’s aspirations for a strong and stable economy,” comments Nikolay Gurnev, Managing Partner of EY for Bulgaria, Macedonia, Albania and Kosovo.

“It is the word “family” that distinguishes family businesses from all other branches of the economy. Part of the specifics of a family business is closely related to the emotion of working with your closest people  and the ambition to pass the ball to the next generations. One of the distinguishing features of family businesses is that their leaders think and plan not in quarters but in generations. This is what makes the business extremely sustainable and durable,” adds Stefan Gugushev, Chairman of the Family Business Network in Bulgaria.

Selection criteria
Each of the family businesses, part of the book,  meets a set of criteria:

  • The family is the dominant owner of the business and is responsible for the business development strategy;
  • The family owns at least 50% of the shares and voting rights as a natural person or group of persons belonging to the same family;
  • The family’s dynastic will is intended to pass on the business to the next generation;
  • The business or the headquarters of the business is located in Bulgaria;
  • Business shows significant growth over time.

 More about the companies featured in the book:

Ataro Clima

Founded in 1990 as a trading and installation company for air conditioning systems, today Ataro Clima is a leader in the field of heating, ventilation and air conditioning. Its activities include design, production of elements and complete construction of HVAC installations, warranty and post-warranty services. The largest projects completed by Ataro Clima are Mall Paradise, Sofia Ring Mall and Arena Armeec in Bulgaria and also Cafe Royal Hotel in London, Art’Otel in Amsterdam, Lutetia in Paris. The first and second generation of the family are engaged in the management of the company with 650+ people employed. https://ataro.bg/

Velomania

Velomania is a manufacturing company of bicycles, parts, accessories and equipment for cycling. Velomania also imports and distributes world-famous brands in the field of cycling. Velomania develops its own brands – DRAG and COX as well as its own DRAG Zone retail network for everything related to bicycles. For the fourth consecutive year, the Bulgarian brand DRAG has been the general sponsor of the French Cycling Cup and is also an official supplier of the European Cycling Confederation. The company is currently under the management of the first generation employing more than 110 people.

https://dragbicycles.com/

Villa Melnik Wine Cellar

Villa Melnik Wine Cellar is a family winery, a producer of local and foreign varieties with a distinctive character of the region. It has 300 decares of own vineyards near the town of Melnik and a modern winery with a production capacity of 200,000 bottles per year. Until last year, 7-8% of their production has been sold on the international markets. In Europe, Villa Melnik sells in England, Germany, Switzerland, and France. Their farthest markets are Brazil, Taiwan and China. Both the first and the second generation of the family are involved in the winery, with about 20 people employed.

https://villamelnik.com/

Global Group

Producer’s house “Global Group” deals with production of TV formats and movies, advertising and music videos. “Global Group” is mainly associated with the successful TV formats “Sweet Vengeance”,  “Lords of the Air,” “The X Factor,” “Your face sounds familiar”, with TV series such as “Sea Salt” and “Seven hour difference“. One of the leaders on the Bulgarian TV production market, today, Global Group have taken upon the challenge of international markets. The company employs between 150 and 200 people.
https://www.globalgroup-bg.com/

Medical Technics Engineering

Medical Technics Engineering (MIT) has been known for 26 years as one of the leading providers of medical and laboratory products in Bulgaria – solutions, equipment, consumables for the needs of hospitals in the country. The team of the company is dedicated to creating both real and added value to the service of a distributor of medical equipment and consumables. The company is run by the first and second generation with 75 employees.
https://www.mte-bg.com

Parshevitsa

The main activity of Parshevitsa is livestock breeding and production of dairy products – milk, yoghurt, white and yellow cheese under the brand Parshevitsa. One of the few businesses with a fully-fledged bio-cycle feed-animal-milk-dairy products from a single manufacturer. The company employs 220 people with its first generation leading the business.

Rosaimpex

Rosaimpex started its activity in 1991 as the first private company in Bulgaria producing white cosmetics and haircare products. 82% of Rosaimpex cosmetics enjoys a good reception on the foreign market. The company’s products reach more than 30 markets worldwide. The business is led by the first and second generation with 230 people involved.

https://www.rosaimpex.com/

Tandem B

Tandem B Ltd. is a producer of high quality meat products and delicacies – fillets, sausages, dried delicacies, ham, bacon and others. Since 1993, Tandem brand enjoys the trust of consumers and the respect of other meat producers in Bulgaria. The first and second generations are involved in the management of the company with 170 employees.
https://www.tandem.bg/

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