Barambo Sells 11.25% Share at the Auction for 1.516 Million GEL

11.25% share of chocolate and ice cream company "Barambo" is sold at auction. The share, which belongs to Nikoloz Shakarashvili in the company, was auctioned by the National Bureau of Enforcement for 1 516 472 GEL. It should be noted that the value of the share is estimated by the expert at 2 021 963 million GEL.

The auction started on February 14 and will end on February 22. The trade bid is 20 219 GEL, the guarantee amount is 101 098 GEL.

Barambo was founded in 2009. According to the latest excerpt from the Entrepreneurial Register, the majoritarian shareholder of the company - Mari Chochelia holds 66.25% of the shares, Ucha Kapanadze owns 22.5%. Shakarashvili's share has been seized since 2013.

The main activity of the company is the production of chocolates, various types of candies and ice cream. The product is sold both in Georgia and in the export market - Europe and Asia.

According to the financial statements, Barambo had assets of GEL 71,638 million as of December 31, 2020. In the first year of the pandemic, the company's revenues amounted to GEL 44,520 million. It should be noted that "Barambo" lost 4.434 million GEL in 2020.