- ECGI Holdings recently signed a LOI to acquire Pacific Saddlery, a renowned manufacturer and retailer of luxury equestrian tack, apparel, and accessories
- According to the company, the acquisition strategically aligns with its objectives of expanding its presence in the luxury brands sector
- The acquisition is expected to generate new recurring revenue streams and enable ECGI to capture a share of the luxury equestrian market as well as the broader global equestrian market
- The larger global equestrian market, which is segmented into equestrian apparel and equestrian equipment, is expected to grow to $26.7 billion by 2032 from $17.5 billion in 2023
ECGI Holdings (OTC: ECGI), a diversified holding company with a unique portfolio in viticulture and luxury fashion, has been strategically shifting its focus as it ventures into a future defined by innovation, luxury, and a commitment to building high-ROI brands that will stand the test of time. This follows the December 2023 signing of a joint venture share purchase agreement with Nick Collins, a well-known professional in the equestrian luxury market, creating Pacific Saddlery Inc. (https://ibn.fm/h0W0t).
“In line with our ongoing evolution, this joint venture with Nick aligns with ECGI’s new direction, emphasizing a commitment to building luxury brands,” said Jamie Steigerwald, CEO of ECGI, in a December 28 news release.
Several months later, in June 2024, ECGI announced an LOI to acquire Pacific Saddlery, now a renowned manufacturer and retailer of luxury equestrian tack, apparel, and accessories. Under the agreement, ECGI will acquire all outstanding shares of Pacific Saddlery in exchange for $5 million in ECGI-restricted shares (https://ibn.fm/YZnta).
“We are thrilled to finalize this acquisition and further our commitment to building high-quality, luxury brands,” said Jamie Steigerwald, CEO of ECGI Holdings. “Nick Collins brings unparalleled experience and a deep understanding of the equestrian luxury market, which will be invaluable as we integrate Pacific Saddlery into our portfolio.”
This acquisition, ECGI said, strategically aligns with the company’s objectives of expanding its presence in the luxury brands sector, marking a significant step in its efforts. It is expected to generate new recurring revenue streams and enable ECGI to capture a share of the luxury equestrian market and, importantly, to grow within the broader global equestrian market. The overall equestrian market is huge, and is segmented into the equestrian apparel market and the equestrian equipment and tack market which is a valuable point of entry.
According to projections by Global Market Insights, the global equestrian apparel market is expected to reach $9.7 billion by 2032 from $6.5 billion in 2023, representing a CAGR of 4%. Analysts expect equestrian events like horse racing, which have been gaining considerable popularity in the recent past, to complement this projected growth (https://ibn.fm/68oZG).
In addition, Global Market Insights projects that the equestrian equipment market will register a CAGR of more than 4.3% between 2024 and 2032. The research company expects the market to grow from $11 billion in 2023 to $17 billion by 2032 (https://ibn.fm/a7ekl). This growth, which has seen companies like Pacific Saddlery offer a wide range of specialized gear and accessories, is driven by the strong emphasis on both rider and horse comfort, safety, and performance, as well as the increasing participation in equestrian sports (https://ibn.fm/AAcbh).
Following the consummation of the partnership, Collins will take up the role of president of ECGI, with Steigerwald assuming the additional role of president of Pacific Saddlery. The duo will serve as co-chairmen of ECGI. The company believes this leadership structure is designed to drive the growth and innovation of both companies.
Collins brings more than 25 years of expertise in equestrian luxury goods. He founded Rolling Meadows, created the Allon and Renard et Cheval equestrian brands, and played an important role in creating and launching Kaval.com.
“This partnership with ECGI is a significant step forward for Pacific Saddlery. Together, we are poised to elevate our brand and expand our presence in the luxury equestrian marketplace. Our shared vision and combined resources will create unique and memorable products for our customers,” said Collins of the partnership with ECGI.
For more information, visit the company’s website at www.ECGIHoldings.com.
NOTE TO INVESTORS: The latest news and updates relating to ECGI are available in the company’s newsroom at https://ibn.fm/ECGI
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