Innova Capital sells Marmite

Poland's Innova Capital and minority shareholders have sold a 100 percent stake in Swedish bathroom fittings maker Marmite to US rival Cranemere, the fund said. Marmite records around €50 million in revenues annually and exports the majority of its products. Innova Capital is a leading mid-market private equity firm in Central Europe. Founded in 1994, Innova raised the first major CEE fund comprising entirely private capital. Since then Innova has invested almost €600 million in nearly 40 companies, across 10 countries in the region.