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Innova Capital sells its stake in Marmite

Innova, together with other minority shareholders, have sold their stakes in Marmite – the leading European cast marble sanitary ware manufacturer – to Cranemere Ltd in one of the biggest deals in Poland this year.

Innova purchased a controlling stake in Marmite from its founder Roger Johansson, in 2010. Under the leadership of CEO Robert Rutkowski and his team, the Company pursued its strategy of European expansion, product and material innovation and operating improvements, further extending its leadership position on the European market.

During its holding period Innova helped steer through the transition from founder to a world-class management team. During 2010-2016 Marmite built a pan-European sales force, improved productivity and capacity in its Poznan production plant, and developed a top-class design capability recognised by the international iF, Red Dot and Aêž‹Design Awards.

With circa EUR50 million of annual sales and the majority of its products sold for export, Marmite is the leading European producer of cast marble sanitary ware and the only supplier capable of meeting the highest standards of the largest and most demanding European customers in terms of volume, quality and just-in-time delivery. 

“Marmite is a truly world class company, headquartered here in Poland. We are delighted,” says Olivier Weddrien – Head of Cranemere’s European activities. 

“Innova seeks high-value-added manufacturing businesses that can establish leadership not just in Poland, but across Europe. We are therefore very proud of what has been achieved by Marmite,” adds Rob Conn, Innova’s Founding Partner.

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