Innova Capital backs R-GOL in European expansion

Source: https://innovacap.com/

June 21, 2023

Innova will take a majority stake in the company, while R-GOL’s founder Marcin Radziwon will remain involved as CEO and shareholder. This transaction expands Innova’s portfolio with another investment in technology sector, this time in specialised e-commerce. This will be the second transaction financed from Innova/7 fund, which exceeded €324 million in its recent interim closing.

The transaction will help accelerate the development of the company, which has been successfully conquering the European market. Since football is a strategic theme of R-GOL.com’s business model, it has an excellent understanding of its customers’ needs. Expert knowledge, innovation, long-term cooperation with clubs and a strong community of football enthusiasts built around the brand make the company a key partner for leading manufacturers of footwear, apparel and sports accessories. The company, headquartered in Ostróda (Poland), was founded in 2000 and currently employs more than 150 people. Over the past two years, the company has nearly tripled the scale of its operations, while focusing on international expansion, strengthening its position in existing markets and selective acquisitions. This year R-GOL expects about PLN 250 million in revenue. R-GOL currently operates in 11 markets in Central and Eastern Europe and is an undisputed leader among specialized distributors of football products.

“At R-GOL we love to grow, to compete and, above all, to win. We have come a long way in 23 years, but we are still hungry for more success in European stadiums. In order to facilitate our further development, and maintain the right dynamic, security and efficiency, we decided to join forces with a very experienced business partner, Innova Capital,” says Marcin Radziwon, founder and CEO of R-GOL. “I believe that, together, we will create an even better team, an even more professional R-GOL organisation. I am very happy that our new partners are, first and foremost, people with values, which is extremely important for us. At the same time, I would like to thank the fund for the trust it has placed in us. Our entire team is looking forward with excitement to the new challenge that lie ahead of us in the years to come. We are ready to work hard to continue winning with humility"- adds Marcin Radziwon.

"We are excited about the vision of a joint business journey with R-GOL. This transaction represents one of our classic investment models, which involves Innova entering into a partnership with a family-owned company. Besides its solid business fundamentals, what really drew us to R-GOL was its unique corporate culture and the special team of people that Marcin has brought together. We want to help the company reach its full potential,” said Leszek Muzyczyszyn, Senior Partner at Innova Capital.

“R-GOL is a great example of how joy and passion for football can be combined with a thriving business. We are confident in the company’s strong growth prospects, which are underpinned by a number of factors, including increasing digitalisation and the growing importance of e-commerce/omnichannel, and the fit with the manufacturers’ distribution strategy that promotes specialist partners such as R-GOL. In addition, we see potential in the consolidation of the market in the region, and the growing popularity of football among women may also help the company to grow” - added Lukasz Cyran, Managing Director at Innova Capital.

With a new partner on board, the company intends to strengthen its position as the undisputed number one in CEE and a leader in technological innovation (including in areas such as data analytics, AI, the football metaverse, and next-gen omnichannel). An important element of R-GOL’s development in the next few years will be its buy&build strategy, with the firm seeing great potential for add-on acquisitions both in the football category and in related disciplines, where R-GOL could leverage its know-how.

About R-GOL

R-GOL is the leading multi-brand distributor of football merchandise in CEE. The company currently operates in 11 countries in Europe. In addition to its core e-commerce channel, R-GOL also runs a network of 9 physical showrooms and works directly with over 1,000 football clubs, comprehensively meeting their needs.
www.r-gol.com