A lookout tower in the Tokaj wine region in south-eastern Slovakia. (source: SITA)
Looking at the pictures of Slovak wineries, it would be easy to identify the most spectacular ones. Boutique wineries, guest-houses and hotels have sprung up in the midst of vineyards. At first glance, it is evident that no expense was spared on these projects.
You'll find out why soon enough. Backing them are financially well-off owners who have decided to invest in wine as a side business and sometimes a personal experience business.
In this overview, you will find 11 businesses from entrepreneurs who, though originally from a different kind of business, entered wine-making. More than once, not only did they have enough money of their own, but the state helped them as well.
1 Elesko
Location: Modra, Bratislava Region
Operator: Elesko
Revenue in 2022: €1.9 million
Economic result in 2022: profit of €650,000
When the Elesko winery backed by businessman Igor Ledecký was being constructed below the Little Carpathians mountain range, it was called the most modern and luxurious in Slovakia. Ledecký is relatively unknown in Slovakia. He became rich from energy and engineering projects in Russia, where he worked with Czech billionaire entrepreneur Petr Kellner (he died in a helicopter crash on a trip to Alaska in 2021).
Due to a dispute over joint Russian real estate projects, Ledecký and Kellner were fighting over the winery, with the former eventually prevailing.
However, the winery is far from being in ideal financial circumstances. In 2022, its revenue was €1.9 million and profit €650,000, but over the previous four years it generated a total loss of almost €3.2 million. By the end of the same year, the company had long-term liabilities at the level of €6.6 million. Newer data is not yet available.
2 Chateau Grand Bari
Location: Bara, Košice Region
Operator: Chateau Grand Bari
Revenue in 2022: €1.1 million
Economic result in 2022: profit of €35,000
The Chateau Grand Bari company belongs to businessman Jozef Janulák's group, who for the first time entered the Forbes list of the richest Slovaks. The magazine ranked him 26th and estimated his assets at €140 million. He mainly belongs among business elite because he sold the Prešov-based company Spinea to the American company Timken.
With the help of €2.55 million in state subsidy, Jankulák built a luxury hotel near the winery in the village of Bara in Trebišov district, eastern Slovakia.
The subsidy is related to the Dobytkár (Cattle Breeder) case, which involves allegations that an organised criminal group embezzled and laundered more than €3.7 million in EU funds. According to the repentant Marek Kodada, Jankulák was supposed to have given financier Martin Kvietik a bribe in the amount of ten percent of the subsidy. Jankulák denied this claim in court.
