In 1998 Mr. Plamen Penchev sold part of his shares in the existing company Askent Ltd. to new investors and these shares were distributed among them. Then Askent Jsc was transformed into a joint stock company under the name Asket and Co Jsc and Mr. Valentin Karabashev and Mr. Tinko Vasilev were appointed to the Board of Directors. The company was incorporated with the aim of dealing in tobacco products and sale of spare parts for the food industry.

In 2000 some shareholders of Asket and Co Jsc repurchased shares to consolidate the registered capital and the name of the newly established company became Tivamex & Co Jsc Because of changes in the capital structure, changes were also made in the management structure of the new company.

Company restructuring was started and non-profitable operations closed down, acquired assets optimized and manufacturing processes reorganized.

As early as in its first years of development Tivamex & Co Jsc changed and expanded its investment interests in various fields – dealing in fast moving goods, combined fodders and vitamin-microelement premixes, cereals and flour, construction and operation of high-category apart hotels, organization of marketing initiatives, logistical operation and others through active investment activity acquiring shares in the capital of Agrotechcompex 99 Jsc, Elina Invest Jsc and Premix 98 Jsc, Parvi May flour mill plant, city of Chirpan and other companies, and became a majority holder of Elina Jsc, Agrotex complex Jsc and Hranservice engineering Jsc. On the territory of Bulgaria the companies from various industry branches have their manufacturing plants and administrative office, construction and operation, food processing industry.

In the following next years the company is further proceeding with the restructuring of its business and land and building property.

In 2004 in pursuit of its investment activity the company acquired also 60 % from the shares of Olympia 1-2-3 Ltd. in the retail trading with food products and domestic goods carried out through a chain of supermarkets.

By acquisition of shares in these companies the establishment of a holding company structure was initiated for financial control of the subsidiaries.

In 2006 because of the increase in the scope of the business, there arose the need for a new organization of the business and restructure of Elina AD. Consequently, the new company Elina A D Ltd. was established to further develop the large-scale construction activity started by the company through the management of construction/investment projects, sale and management of the property.

The Regional Center South Jsc was established in 2007 in connection with the construction and marketing of a chain of food sale shops, production and trade with goods and services in the country and abroad, program services.

Today Tivamex & Co Jsc is a holding company active in the investment business, construction, tourism, production of foods and food additives for animal raising, trade in fast moving goods and cereals, production and trade with flour.

The company has single-tier system of management consisting of a Board of Directors.

1. Tinko Angelov Vasilev – chairman and executive director
2. Dimitar Borisov Demirev – executive director and member
3. Antoanate Ruseva Tsnova - member