ECGI Holdings Announces LOI to
Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market
Potential
The acquisition aligns with
ECGI's objectives to capitalize on the $12.72 billion equestrian
sector.
IRVINE, CA -- June 13, 2024 -- InvestorsHub NewsWire
-- ECGI Holdings, Inc. (OTC:
ECGI) (ECGI or the Company), a diversified holding company with
a unique portfolio in viticulture and luxury fashion, today
announces the signing of a binding Letter of Intent (LOI) to
acquire all outstanding shares of Pacific
Saddlery, Inc., a renowned manufacturer and retailer of luxury
equestrian tack, apparel and accessories. This acquisition,
strategically aligned with ECGI's objectives of expanding its
presence in the luxury brands sector, marks a significant step in
its efforts, instilling confidence in the future success of the
merged companies.
The LOI
builds on the successful launch of Pacific Saddlery's mobile retail
trailer earlier this year. The global equestrian apparel market,
valued at approximately $6.5 billion in 2023, is projected
to grow to $9.7 billion by 2032. Additionally, the equestrian
accessories market, including tack, is valued at approximately
$2.17 billion and is expected to
reach $3.02 billion by 2032. Together, they represent a
significant opportunity for ECGI's expansion in the luxury
equestrian sector, with a combined market size projected to grow
from $8.67 billion to $12.72 billion by 2032.
The LOI
outlines the terms and conditions for ECGI's acquisition of Pacific
Saddlery. Under the agreement, ECGI will acquire all outstanding
shares of Pacific Saddlery in exchange for $5,000,000 in
ECGI-restricted shares. These shares will remain restricted until
ECGI uplists to a national exchange. This acquisition is
anticipated to generate new recurring revenue streams and enhance
ECGI's position in the luxury equestrian market.
Nick
Collins, a well-known professional in the equestrian luxury market,
will bring his wealth of experience to the role of president of
ECGI. Jamie Steigerwald, the CEO of ECGI, will assume the
additional role of president of Pacific Saddlery. Together, they
will serve as co-chairmen of ECGI, a leadership structure designed
to drive the growth and innovation of both companies.
"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."
Nick
Collins expressed his enthusiasm, stating: "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."
About ECGI
ECGI is a diversified holding company with a distinctive portfolio
encompassing viticulture and luxury fashion. The Company owns and
manages a five-acre vineyard in Lake County, California,
specializing in cultivating Petite Sirah, known for its bold and
rich character, which aligns with the growing demand for unique and
high-quality wine experiences. In the fashion sector, ECGI has
strategically invested in Pacific Saddlery, a premier manufacturer
and retailer of luxury equestrian tack, apparel and accessories.
This unique blend of wine and fashion investments reflects ECGI
Holdings' commitment to delivering sophistication and innovation
across diverse markets, positioning the Company as a distinctive
player in the intersection of technology, viticulture and luxury
lifestyle.
For additional information, please contact us at info@ecgiholdings.com.
Forward-Looking Statements
This release contains "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may also be included in other publicly available
documents issued by the Company and in oral statements made by our
officers and representatives from time to time. These
forward-looking statements are intended to provide management's
current expectations or plans for our future operating and
financial performance, based on assumptions currently believed to
be valid. They can be identified by the use of words such as
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance. Examples of forward-looking statements
include, among others, statements relating to future sales,
earnings, cash flows, results of operations, uses of cash and other
measures of financial performance.
Because forward-looking statements relate to the future, they are
subject to inherent risks, uncertainties and other factors that may
cause the Company's actual results and financial condition to
differ materially from those expressed or implied in the
forward-looking statements. Such risks, uncertainties and other
factors include, among others such as, but not limited to, economic
conditions, changes in the laws or regulations, demand for products
and services of the Company, the effects of competition and other
factors that could cause actual results to differ materially from
those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be
considered with these factors in mind. We assume no obligation to
update any forward-looking statements contained in this report.
For more information, please contact:
Jamie Steigerwald
jamie@ecgiholdings.com
SOURCE: ECGI HOLDINGS, INC.
