Miami – May 11, 2021 - Motorsport Network, the integrated digital platform with a global monthly reach of 56 million automotive and racing fans, has agreed to acquire the prestigious duPont Registry, a market leader in the luxury automotive marketplace for over 36 years, dedicated to connecting affluent buyers with high-end exotic cars and luxury brands.
For over three decades, duPont Registry has held the stakeholder position as the premier platform for the wealthy elite to buy and sell classic, luxury, and exotic cars. duPont Registry's brand authority, publication, and digital properties lead the luxury automotive marketplace, and with an impressive reach of nearly 10 million followers in social media, the business has captivated a highly exclusive and influential audience.
Motorsport Network will strategically seat duPont Registry as the nexus of its newly created Driven Lifestyle division, harnessing the culture, community, and commerce of the world's luxury and classic automotive lifestyle in one ecosystem. The Driven Lifestyle portfolio features Canossa Events, synonymous with excellence in road touring, that organizes nearly 270+ marquee experiences per year for driving enthusiasts. Part of Canossa Events, Cavallino is a preeminent media and concours events company, hosting landmark events for high-end automotive collectors and admirers such as the 30th Annual Palm Beach Cavallino Classic. In the community, FerrariChat is a leading global social platform and foremost voice on Ferrari, with 20+ years of experience connecting 200K engaged registered members. Dedicated to the artform of luxury vehicles, Amalgam Collection, founded in 1985, occupies a unique place in the history of fine car models, fashioning unrivaled examples of the world's most iconic and luxurious cars at scale.
With a fast-growing global classic, luxury, and exotic car markets and the acceleration of automotive digital retailing, the Driven Lifestyle portfolio will continue to expand Motorsport Network's existing infrastructure internationally. As the center of this powerful network, duPont Registry is poised for a digital transformation, further extending its leadership position as the most influential, innovative, and sophisticated ultra-luxury and exotic automotive marketplace, providing an exceptional experience for the affluent consumer dedicated to a driven lifestyle.
Established in 1985, duPont Registry is the pioneer of the luxury and exotic automotive marketplace. Founders Thomas L. duPont and Steven B. Chapman had a shared vision of publishing a four-color glossy magazine for the luxury automotive market connecting affluent buyers with high-end brands.
Once the acquisition of the duPont Registry is completed, Steven B. Chapman will be retiring as CEO / President of duPont Publishing. Steve's sons will remain shareholders and hold the following titles of William Chapman as CEO and Steven Chapman Jr. as President. Leveraging Motorsport Network's advanced technology capabilities, the Chapman brothers will oversee duPont Registry's digital transformation, elevating the platform as an ambassador of integrated business solutions for clients.
Steven B. Chapman, CEO / President duPont Publishing said: "When we started the duPont Registry 37 years ago, I couldn't fathom the impact our brand would have on the luxury and exotic car marketplace as well as the affluent lifestyle segment.
As amazing as it has been building this company with so many incredible people, it has been an experience of a lifetime being able to involve my sons from such an early age. It has been my dream that one day they would run the business and continue the duPont Registry legacy.
The duPont Registry has been my life since I was 23 years old. Although I have received many unsolicited offers over the years, we never imagined selling this great company. Knowing that my sons would remain shareholders and be heavily involved in running the business with the resources and support of the Motorsport Network, I cannot wait to see what the future holds."
Ben Block, CEO Motorsport Network said: "We are incredibly honored to be adding this prestigious property to our new Driven Lifestyle division. duPont Registry was first to market in its segment and with its authority built a bond of trust with its discerning audience. Utilizing Motorsport Network's technology acumen and international reach, our goal is to elevate the user experience, offer clients more innovative solutions and grow the business globally."
About Motorsport Network
Every month over 56 million dedicated users visit a Motorsport Network digital property, to buy, to learn, to be entertained, or simply to feed their passion for cars and racing.
We sit at the heart of the Racing and Automotive industries and provide authoritative thought leadership as well as unique experiences to our customers. We take them on a customer journey that encompasses news and insights, events, tickets, games, and eSports, so we leverage the network effect to add value to their experience. We use our in-house technology and modern data tools to continuously test, learn and improve. Our processes, content creation, and products are constantly evolving to better serve our audience.
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Forward-Looking and Other Cautionary Statements
Completion of the transactions in Motorsport Network's definitive written agreement to acquire duPont Registry, which is expected to close in 2021, are subject to customary conditions. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Network and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether all conditions precedent in Motorsport Network’s definitive agreements to acquire duPont Registry will be satisfied, whether the closing of such acquisition will occur, what the ultimate impact of the ongoing and prolonged COVID-19 pandemic will have on Motorsport Network and its results of operations and financial condition and whether Motorsport Network will achieve its goals, including as to: (i) its future business growth globally; (ii) its plans to continue to expand its existing infrastructure internationally; and (iii) its belief that duPont Registry is poised for a digital transformation, further extending its market leader position as the most influential, innovative and sophisticated ultra-luxury and exotic automotive marketplace. Additional examples of such risks and uncertainties include, but are not limited to (i) Motorsport Network’s ability (or inability) to maintain and/or expand the Drive Lifestyle portfolio; (ii) Motorsport Network’s ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (iii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (iv) the ability to attract and retain qualified employees and key personnel; (v) adverse effects of increased competition on Motorsport Network’s business; (vi) the risk that changes in consumer behavior could adversely affect Motorsport Network’s business, results of operations and/or financial condition; (vii) Motorsport Network’s ability to protect its intellectual property; and (viii) local, industry and general business and economic conditions. Factors other than those referred to above could also cause Motorsport Network's results to differ materially from expected results. Motorsport Network anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Network assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Network’s plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Network’s or duPont Registry’s websites or any other websites referenced or linked to this press release shall not be incorporated by reference into this press release.