Elk Lighting acquires Bailey Street Holding Co.
Jenny Heinzen York, Home Accents Today -- Furniture Today, August 2, 2011
AT THE MARKET — Elk Lighting has acquired furniture and mirror distributor Bailey Street Holding Co. from Red River Ventures. The acquisition through Elk's sister company, Mount Summit Lighting, was finalized Monday.
Bailey Street distributes accent furniture, case goods, chairs and mirrors. Elk Lighting also owns Sterling Inds., known for its accessories, lamps and mirrors.
"Bailey Street is a well-respected name within the industry known for providing quality and value-driven products to its customer base for over 10 years," Elk Lighting Vice President of Sales and Marketing John Haste said in a press release. "Our goal is to build upon these core competencies while delivering new, innovative furniture collections combined with cross-promotional opportunities with our other product lines."
Bailey Street operations will remain in Dallas, Haste said.
"In one way it's kind of status quo," he told Home Accents Today, a sister publication of Furniture/Today. "We'll be focused on new products and a new catalog right away."
He said the acquisition helps complete Elk's positioning within the home furnishings business. "This product fits a gap that we have product-wise," he said. "Bailey Street brings another element of products and has a very, very strong brand name. We, of course, want to build on that."
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