Polish Enterprise Fund VIII, a private equity fund managed by Enterprise Investors (EI), will acquire an 80% stake in Snap Outdoor, a distributor of mountaineering and climbing equipment. The company also owns 8a.pl, Poland’s most popular e-store dedicated to active tourism and mountain sports.
- The company founders – Mr. and Mrs. Piotr and Elżbieta Czmoch – will remain minority shareholders and will team up with EI to facilitate the dynamic future growth of the business;
- The value of the transaction was undisclosed;
- The transaction is conditional upon obtaining antimonopoly approval.
Snap Outdoor is a distributor of mountain sports equipment and runs 8a.pl, the undisputed leader among specialty online retailers. 8a.pl trades apparel, footwear and accessories for outdoor activities and mountain sports such as climbing and ski touring. The company has two brick and mortar stores (in Warsaw and Gliwice, southern Poland), with a third location (in Katowice, southern Poland) due to open shortly. Snap Outdor was founded in 2001 in Gliwice, where its headquarters and logistics center are still located.
The company operates in a very promising market niche that is fueled by healthy lifestyle trends, the increasing popularity of outdoor sports (including mountain sports) and the rising disposable income of Poles. The outdoor sector is expected to continue its dynamic growth in the coming years.
8a.pl stands out from its competitors with its well curated assortment built around tourism and mountain sports. The company strategy is to offer only masstige and premium brands, which are otherwise not widely available. It also has the largest product availability among outdoor equipment specialists in Poland. Strong financial results confirm Snap Outdoor’s leading market position – revenues topped EUR 16 million in 2020, while this year they are expected to exceed EUR 23 million.
“We are convinced that Snap Outdoor’s business model can be successfully replicated in other CEE markets, which in most cases lack a clear market leader in outdoor e-tailing. Thanks to its broad experience in the specialized online retail sector and excellent logistics, the company can become a consolidation platform for other niche e-commerce segments,” said Enterprise Investors Partner Michał Kedzia, who is responsible for the firm’s investments in the retail sector, including Intersport ISI and Snap Outdoor.
“The greatest advantage of our online business is the broad base of returning customers, most of whom are passionate about mountain sports. With every product on the market being just one click away, this proves our strategy and focus on high quality have been key contributors to our success. We plan to make our offer available to mountain lovers from other countries of the region. Our goal is to become the favorite brand for outdoor enthusiasts in Central and Eastern Europe,” emphasized Piotr Czmoch, cofounder of Snap Outdoor.