The CGC parent company, the Certified Collectables Group is set to be acquired by Blackstone Tactical Opportunities investment group, which includes Jay Z's company, ROC Nation. Founded in 1987, the CCG companies and witness authentication services have certified more than 60 million coins, banknotes, comic books, trading cards, sports cards, stamps, estate items and related collectibles.
Blackstone Tacticle Oppertunities is an investment group composed of clients that seeks out differentiated investment opportunities. Blackstone acquired a majority stake valuing the company at more than $500 million. Mark Salzberg and Steven R. Eichenbaum, CCG founder and CEO, will retain a significant minority stake allowing CGC's leadership to stay in place while providing them with access to Blackstone's extensive resources.
This includes ROC Nation, an entertainment company representing figures from across the board of Music, Sports, Literature, TV and Film which includes the likes of Rihanna, Shakira and Jaden Smith. With the collectables market unprecedented growth over the past year due to the covid 19 pandemic and cancellation of conventions across the world, collectors and speculators have relied and grown online services.
CGC has been receiving an unprecedented amount of comics while growing their cliental by appearing more often at private signings for the likes of Harrison Ford and Sylvester Stallone for companies such as SWAU and Official Pix, whose signing prices have now grown over $1000+. With this acquisition the Certification company will have closer links to the entertainment industry providing unprecedented opportunities for collectors everywhere.
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