Bailey Street Sold to Elk Lighting
Jenny Heinzen York -- Home Accents Today, September 1, 2011
ELK LIGHTING INC. ACQUIRED BAILEY Street Holding Company from Red River Ventures last month. The acquisition through Elk's sister company, Mount Summit Lighting, was finalized Aug. 1.
Bailey Street distributes accent furniture, case goods, chairs and mirrors through a wide network of furniture showrooms across North America. This combination of companies with Elk-owned Sterling Industries, known for accessories, lamps and mirrors, provides customers of both companies a single source for home furnishings, according to a press release from the company about the purchase.
"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," said Elk Lighting's Vice President of Sales and Marketing John Haste. "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. "But 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," 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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