Barret-Jackson acquired by IMG
Thursday, 1 September 2022 at 16:30:00 UTC
Auction firm now part of IMG media and sports group
US auction firm Barrett-Jackson has been acquired by IMG, which is an Endeavor company.
IMG has reportedly acquired a 55% stake in Barrett-Jackson for $261 million.
Endeavor CEO Ariel Emanuel said: ‘We have long been admirers of Barrett-Jackson and have seen first-hand the scale, excitement and 50 years of tradition surrounding their events. Like IMG, Barrett-Jackson is a pioneer of its industry, and we look forward to working with Craig and his team to build on its impressive legacy across categories including experiences, hospitality, content, marketing and partnerships.’
Craig Jackson, CEO of Barrett-Jackson, added: ‘Pairing Barrett-Jackson with the unique power of the Endeavor network is an unparalleled opportunity for our company, immediately opening doors to amplify and accelerate the growth of Barrett-Jackson as a global lifestyle brand. I couldn’t be more excited to have the best partner as we look to optimize our fan experience and create new touchpoints for car enthusiasts around our live events and media offerings.’
Steve Davis, President of Barrett-Jackson, said: ‘After more than 25 years with Barrett-Jackson, I can’t wait for this next chapter for our customers. We’ve built something incredibly special and with the expertise and relationships of IMG, Craig and I look forward to elevating our offering and attracting a whole new generation of fans.’
This investment in the industry comes at a time when enthusiasm around collector cars and live events, demand for auto-related content, and collector car prices are at a record high—and as car collectors are increasingly trending younger.