ECGI Holdings acquires Pacific Saddlery to boost luxury equestrian market presence
ECGI Holdings, Inc., a diversified holding company with a focus on viticulture and luxury fashion, has announced a strategic move to acquire all outstanding shares of Pacific Saddlery, Inc., a top-tier manufacturer and retailer of luxury equestrian tack, apparel, and accessories. This acquisition, valued at $5,000,000 in restricted shares, marks a pivotal step in ECGI’s plan to expand its influence in the luxury brands sector.
The luxury equestrian market, which includes both apparel and accessories, currently enjoys robust growth projections. The global equestrian apparel market is expected to grow from approximately $6.5 billion in 2023 to $9.7 billion by 2032. Similarly, the equestrian accessories market is set to increase from $2.17 billion to $3.02 billion within the same period. This combined market, which is anticipated to escalate from $8.67 billion to $12.72 billion by 2032, represents a significant growth opportunity for ECGI’s luxury sector portfolio.
The binding Letter of Intent (LOI) detailed by ECGI Holdings will see them taking over Pacific Saddlery through an exchange of restricted shares. These shares will remain restricted until ECGI successfully uplists to a national exchange. The integration of Pacific Saddlery is expected to introduce new recurring revenue streams and solidify ECGI’s stature in the luxury equestrian market.
The management structure post-acquisition will see Nick Collins, a distinguished figure in the luxury equestrian domain, stepping in as the president of ECGI. Jamie Steigerwald, CEO of ECGI Holdings, will expand his leadership role to include the presidency of Pacific Saddlery. Both Collins and Steigerwald will co-chair ECGI, aiming to drive growth and innovation within the merged entities.
“We are thrilled to finalize this acquisition and further our commitment to building high-quality, luxury brands,” expressed Jamie Steigerwald, CEO of ECGI Holdings. Nick Collins added, “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.”
This strategic acquisition not only enhances ECGI’s portfolio but also positions it as a powerhouse in the expanding luxury equestrian market. The combined expertise of Collins and Steigerwald, along with the innovative approach of both companies, is expected to bring forward a new era of luxury equestrian products that resonate with modern consumer needs.