Our company was founded in 1929 by Rudolf Gsonek and is run as a family business in its third generation.
Since its foundation over 85 years ago the company has continuously developed and undergone a major strategic change. We have left our core business – the vinegar production and its trade – and have moved into the real estate industry. As a provider of business apartments in Vienna we continue to attach great importance to tradition and outstanding quality.
As a family business we are proud of our unique and very exciting history. Furthermore we are delighted to share it here with our customers and business partners.
Our company history in detail
Establishment of a shoe store in Laa / Thaya, Lower Austria.
Closing of the shoe store and construction of a production plant. Start of the vinegar and liqueur production and trade. The vinegar quota that was back then managed by the state was continuously increased.
Purchase of another vinegar factory. Their vinegar quota was used to increase our market share.
Acquisition of further vinegar quota and renovation of the production plant in Laa / Thaya, Lower Austria. At that time the annual production volume of vinegar reached 1 million litres.
When Austria joined the European Union, the company initially benefited from new export opportunities. Furthermore we were able to extend our customer base further.
The extension of the initial production plant enabled us to produce about 7 million litres of vinegar per year. Also we were the first company in Austria that produced bio-vinegar.
At that time our company was known for having Austria’s most advanced bottling plant and was furthermore considered as Austria’s greatest bio-vinegar exporter.
The vinegar production was sold, however the spirit production continued.
At the time of the sale we held approximately 40% of the total market share of Austria’s vinegar production. Among others our customers included the country’s largest food retailers.
A major change in the corporate’s strategy was decided and the first apartment building in Vienna was acquired. The company’s future in the real estate industry was established. Our new corporate strategy is to acquire and offer furnished apartments, so-called business apartments, to business travellers and companies.
Within a very short period the company was able to establish itself in the market and attract international companies as our customers. Our tenants come from all over the world – we are proud to be a home to so many different cultures.
In 2006 the second apartment building was acquired in Vienna.
Acquisition of third apartment building in the city of Vienna.
Final phase-out of spirit production and trade.
Acquisition of the Apartmenthouse Residenz Donaucity in Schiffmühlenstraße, 1220 Vienna.