ELK Group International Acquires Lazy Susan USA
Posted on November 5, 2013 by
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.
Haste told HFN that aspects such as management changes and the like are being evaluated at this time; the purchase price was not disclosed. ELK will keep Lazy Susan's AmericasMart showroom in Atlanta, he added, so that ELK Group will have two showrooms there--the Sterling showroom in Building 1 and the Lazy Susan one in Building 2.
"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.