Inova Capital, a mid-market private equity firm investing in CEE, decided to give a back to the ten-year-old Polish leader in sports and vitamin drinks OSHEE, according to Innova Capital’s press release. The fund agreed to pick up a minority stake of 33% from OSHEE, along with Solter Capital as a minority partner in the consortium. Financial terms of the deal were not disclosed.
OSHEE is one of the most recognizable brands in Poland for producing isotonic drinks, vitamin drinks and natural products. The company sells its products in 45 countries on 6 continents and generated last year’s revenues of approximately €58.4 M. In 2017 OSHEE acquired Kinga Pienińska, the Polish producer of high-quality mineral water. After combining the two companies and the expansion of the production facility, OSHEE’s production capacity of mineral water increased nearly three times.
Innova Capital will help OSHEE reach its brand development goals, including investments in distribution coverage and advertising. This is to support the growth of Kinga Pienińska, the introduction of modern management methods, and the expansion to international markets. OSHEE also plans to make acquisitions of other FMCG brands with leading positions in their categories, both in Poland and abroad.
Innova Capital is a leading mid-market private equity firm in Central Europe. Founded in 1994, it raised the first major CEE fund of entirely private capital. Since then, Innova has invested almost €500 M in 40 companies across 10 countries in the region. “We are very proud to become a shareholder in one of the most recognized brands in Poland. As part of our strategy, we pursue companies which are true leaders in their respective sectors. We are eager to support OSHEE in its ambitious plans, taking advantage of dynamically growing underlying markets supported by strong consumer trends”, adds Leszek Muzyczyszyn, Senior Partner at Innova Capital.
