Portland-based Rejuvenation has been sold to the California home furnishings company Williams-Sonoma.
Kristian Foden-Vencil reports on the future for the company that makes and sells period light fixtures.
The deal leaves Rejuvenation largely untouched. The company will keep its name and its manufacturing outlet in Portland.
The terms of the deal are being kept secret. Rejuvenation owner and founder Jim Kelly says there isn’t anything he’s particularly planning to do with the proceeds of the sale.
“We’re going to build a new chicken coop I think on our property. But yes, I’m 58. Part of it is being older. The last few years, with the economy have been more challenging. And this is just a dream come true.”
Kelly will remain with the company as a spokesperson. He’ll also help develop new products.
His hope is that with the help of a bigger partner, Rejuvenation will be able to expand. And what does Williams-Sonoma see in Rejuvenation?
Marta Benson, a senior VP with Williams-Sonoma says “I mean this is a gem of a little brand.
“We do think that there’s a national stage for this beautiful brand. I mean they offer very compelling period authentic lighting.”
About 180 people work for Rejuvenation. Company president Alysa Rose says it’s been a tough couple of years, but sales are now increasing.
“We have growth plans and we’ve had them and we knew we’d have to find some outside funding to achieve those goals. And it’s just really a perfect marriage.”
Kelly started the company 30 years ago as a 23-year-old who bought a storefront building. He had an idea for creating a salvage store for people who were renovating old houses. He says there was never any grand plan.
He settled on making lights because he used to have to fix the old ones before they could be sold.
Williams-Sonoma has bought several brands over the years, including Pottery Barn and West Elm.
Rejuvenation sells largely out of catalogues and from three large stores, in Portland, Seattle and Los Angeles.