Bailey Street Holding Company announced that a letter of intent has been signed to acquire Omni Marketing and Sales Group.
“The merging of our two companies represents a new and what I believe to be a beginning chapter in the Home Décor and Gift industry of the future”, said Jim Berk, Bailey Street’s Chairman and CEO. Ruth Krivo, Omni’s Chairman and CEO said the merger “represented a unique opportunity to join two organizations that have known each other for nearly a decade.”
“By combining the vast sales and marketing management experience represented by each company’s management and leveraging the operating expenses of both into a single entity, we believe we have a singular perspective on how to succeed in today’s demanding market environment’, said Greg Waylock, president of Bailey Street.
“As a manufacturer and importer of accent furniture and seating and a marketer of the Mirador® furniture line, Bailey Street’s management has the unique ability to understand what it takes to exceed manufacturer’s expectations in our industry, and at the same time bring to bear best practices for future success on behalf of Omni’s present and future lines” Waylock said.
Berk said it is the new company’s intention to maintain their respective showroom presence in Dallas (where Bailey Street shares space with other vendors in the Omni Showroom in the World Trade Center), Atlanta, High Point (in the IHFC Building) and Las Vegas. “Today, a number of regional representatives’ groups have their own showrooms in High Point, for example, to serve their territorial customers visiting that market. Just one synergy of this new partnership is our ability to provide better exposure in the markets named to all of Omni’s lines where appropriate” Berk said. “We consider ourselves extremely fortunate and grateful that this opportunity has presented itself and are committed to success on behalf of all our constituencies.”
“Bailey Street believes merging with Omni provides great strategic benefits”, said Berk. “Omni has attracted a group of world class lines and offers the expanded company an opportunity to partner with those lines to expand their reach in whatever territory we might be chosen to represent them.”