For Immediate Release
October 1, 2016
ELK GROUP ACQUIRES THE THOMAS LIGHTING BRAND AND ASSOCIATED INVENTORY FROM PHILIPS LIGHTING
Tamaqua, PA – ELK Group International announced today its agreement to acquire the brand and associated inventory of Memphis, Tennessee-based Thomas Lighting from Philips Lighting. Adding Thomas' portfolio of value-tailored products instantly positions ELK to focus more aggressively on the construction market by providing a strong complement to their builder-friendly Cornerstone Lighting brand profile.
Thomas Lighting is one of the original pioneers of the lighting community's 'builder marketplace' – providing high quality indoor-outdoor products to trade professionals for almost ninety years. By sustaining a tradition of excellence that ultimately earned them the distinction of becoming one of the largest suppliers of lighting in North America, Thomas continues to enjoy an outstanding reputation among the nation's leading homebuilders.
"It's an honor to carry on the legacy of Thomas Lighting and we're very excited about the possibilities," stated Bradford Smith, CEO of ELK Group. "By focusing our resources on growing and strengthening both Thomas and our market-specific Cornerstone Lighting line, we have the opportunity to significantly enhance our current offering to the construction professional. In addition to introducing a substantially increased range of budget-favorable lighting products designed specifically to appeal to the builder, we plan to actively expand our sales management, project coordination and customer service departments to best accommodate the client base."
This acquisition is a game changer for ELK Group in several ways, headlined by enhanced access to a robust segment of the lighting marketplace – the Home Builders industry, which generated 79 billion dollars in revenue in the U.S. alone from 2011-2016, with an annual growth rate of 9.2%. More significant is the bolstering of their value-oriented offering: ELK Group's cutting-edge Alico, Dimond and ELK lighting brand concepts already maintain a brisk global following among designers and retail outlets looking for premium lighting solutions. By providing ELK's retail lighting customers with a windfall of 'opening price point' products – which in turn engage the budget-savvy shopper– Thomas effectively solves the value side, unlocking the full potential of ELK Group's entire lighting portfolio.
ELK Group International, headquartered in Nesquehoning, PA, is a premier designer and importer of indoor and outdoor residential, designer and commercial lighting fixtures, decorative accessories and furniture. Through their vast distribution network, they function as a single source provider for a variety of complimentary furnishing categories. Their award winning team of international designers and engineers create coordinating products with uncompromising detail while ensuring each item is crafted to exceptionally high standards of quality, innovation and design.
The company founded in 1983 distributes over 12,000 products under ELK Lighting, Landmark Lighting, Alico, Nulco, Artistic, Cornerstone, Dimond Lighting, Thomas Lighting, Lazy Susan, Dimond Home, GuildMaster, Sterling, Stein World, Bailey Street, Lamp Works, Pomeroy, Mirror Masters and ELK Hospitality. Products are available at a network of lighting and furniture showrooms, electrical wholesale distributors, department stores and specialty home improvement companies throughout the world.