E.L.K. Lighting Acquires Bailey Street
August 2, 2011,
NESQUEHONING, Pa.-E.L.K. Lighting has completed its purchase of Bailey Street Holding Co. from Red River Ventures.
Terms for the deal were not disclosed.
Bailey Street distributes accent furniture, case goods, chairs and mirrors through a wide network of furniture showrooms across North America. In an interview with HFN, Brad Smith, CEO of E.L.K., said the acquisition will enable E.L.K. to offer collections including furniture and lighting products that coordinate in styles. "We'll do a lot of coordination for the bedroom, living room and dining room," Smith said. "It will offer our customers one stop for collections involving a whole room."
Over the past few years, E.L.K. has extended its product line, first, through the launch of its Dimond Lighting brand in September 2009, and then through its acquisition of lighting and furniture manufacturer Sterling Industries in October 2010. "Our mindset is that we expand our product line either by building or by acquiring," Smith said. "In lighting, we build and in furniture, we acquire. Now we can provide room vignettes with all of these pieces."
Smith said E.L.K. will come out with its first vignettes with these products in the first half of 2012.