ELK Group International Acquires Lazy Susan USA
November 5, 2013,
NESQUEHONING, Pa.-ELK Group International has purchased decorative accessories company Lazy Susan USA, an acquisition made through ELK's sister company, Mount Summit Lighting Inc. and finalized on Nov. 1.
The move will further enhance ELK's market penetration within the decorative accessories category, ELK said in a statement, and Lazy Susan's product offering of decorative accessories, mirrors, wall art, lighting and accent furniture aligns well with ELK Group's current product assortment.
"Lazy Susan is a well respected company with leading edge designs which, coupled with our current infrastructure, builds upon our leading market position," said John Haste, ELK Group's vice president of sales and marketing.
"This acquisition truly falls into a win-win...as we are a good fit for LS and LS is a good fit for us," he added.
This is the first acquisition ELK Group International has made in two years after a spate of earlier purchases, including Bailey Street and Nulco in 2011.
Lazy Susan USA is a division of Lazy Susan, which was founded in Japan in 1981. Lazy Susan USA was launched in 2001.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.