IMG, an Endeavor company and global leader in events, media, sports and fashion, announced Thursday that it has acquired a majority stake in Barrett-Jackson, the premier collector car auction and live events company.
IMG, which owns, operates and commercially represents hundreds of events around the world, including Frieze art fairs, Madrid and Miami Open tennis tournaments, Formula Drift and New York Fashion Week: The Shows, will be the strategic partner of Barrett-Jackson. Craig Jackson, who as CEO has made Barrett-Jackson one of the world’s leading brand authorities and lifestyle destinations for premium collector cars, and his Scottsdale-based team, y including Chairman Steve Davis, will seek to leverage the global network and expertise of IMG and Endeavour. in creating world-class event experiences and brands to further enhance and grow the business.
“We have long been admirers of Barrett-Jackson and have seen firsthand the scale, excitement and 50 years of tradition surrounding their events,” said Endeavor CEO Ariel Emanuel. “Like IMG, Barrett-Jackson is a pioneer in its industry, and we look forward to working with Craig and his team to build on his impressive legacy across all categories including Experiences, Hospitality, Content, Marketing and partnerships.”
Barrett-Jackson’s high-energy events and auctions in Scottsdale, Las Vegas, Palm Beach and Houston attract many of the world’s top auto collectors, fans and celebrities, as well as millions of viewers, and record annual sales of over 3,600 unreserved cars. Its flagship Scottsdale event, founded in 1971, auctions highly sought-after, high-value automobiles and welcomes more than 300,000 attendees each year, making it one of the oldest and largest auction events in collector cars in the world.
“Associating Barrett-Jackson with the unique power of the Endeavor Network is an unprecedented opportunity for our company, immediately opening doors to amplify and accelerate Barrett-Jackson’s growth as a global lifestyle brand,” said Craig Jackson. , CEO of Barrett-Jackson. . “I couldn’t be more excited to have the best partner as we seek to optimize our fan experience and create new touchpoints for car enthusiasts around our live events and of our media offerings.”
Barrett-Jackson President Steve Davis echoed Jackson’s sentiment: “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 IMG’s expertise and connections, Craig and I look forward to enhancing our offering and attracting a whole new generation of fans.
IMG’s investment in the collector car industry comes at a time when enthusiasm for collector cars and live events, demand for automotive-related content and collector car prices are reaching record high, as well as at a time when car collectors are getting younger and younger. .