The rights owner of the Rubik’s Cube has sold a minority stake to private equity firm Bancroft Investment.
Rubik’s Brand Ltd was established by the founding families of the original Rubik's business in 2013 to focus exclusively on the Rubik's Brand, and has since worked with the Smiley Company to grow revenues through hugely successful licensing and brand extension initiatives.
Now RBL is looking to step its ambitious up a notch, supporting its global merchandise programme and partnerships with corporate giants like Google, McDonald’s and Red Bull with the cash injected by Bancroft. RBL and Bancroft recruited a new CEO, Christoph Bettin, the founder of toy company Marbel, to help realise the potential of the Rubik's Brand and focus on entering new channels.
Rubik’s Cube inventor Professor Erno Rubik, pictured top with Christoph, says he welcomes the Bancroft , adding "The Cube's impact on the world and humanity is even more interesting to me than the puzzle itself. I am confident that the support of Bancroft and Christoph Bettin's energetic leadership will expand the brand firmly into new areas including education, entertainment, or mind-sports."
David Kremer, the largest stakeholder of RBL, is equally enthused with Bancroft’s involvement and “fully expects” the partnership to accelerate the brand's growth.
Monika Lukacs, the partner leading the deal for Bancroft, adds: "This investment provides a unique opportunity to create value due to the strength of the Rubik's brand, its multiple positive connotations and the several growth potentials that the company has successfully developed in the last five years."