Executives at Dover Saddlery Retail, Inc., a wholly owned subsidiary of Dover Saddlery, and Dominion Saddlery, announced on May 22 that they have signed a non-binding agreement for Dover Saddlery Retail, Inc., to acquire all of the capital stock of Dominion.
Dominion Saddlery, based in Chantilly, Va., has four retail stores in Maryland and Virginia and has been marketing equestrian products for 30 years. Dover Saddlery, the largest direct marketer of equestrian products in the United States, was founded in 1975 in Wellesley, Mass., by U.S. Equestrian Team members.
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“We are very pleased with the plan to add Dominion’s distribution network and loyal customers to the Dover Saddlery family. The presence of the Dominion retail stores in the Virginia/Maryland market would allow us to penetrate this very important market, consistent with our retail expansion strategy,” said Dover President and CEO Stephen L. Day.
Financial terms have not been disclosed. The non-binding agreement contemplates the completion of due diligence by Dover Saddlery and a closing not later than June 15. The parties explained that there could be no assurance that the deal will be consummated.