Aaron Rents, Inc. Acquires Ten Franchised Stores

Furniture World Magazine

Aaron Rents, Inc. a leader in the sales and lease ownership, specialty retailing and rental of residential and office furniture, consumer electronics and home appliances and accessories, today announced the acquisition of ten Aaron's Sales & Lease Ownership franchised stores. "These stores are located in major population areas in which we can add numerous additional stores," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents. "By expanding on this base of now Company-operated stores, we believe we will be able to further penetrate these and other nearby markets rapidly and efficiently." The stores were acquired from Almost Yours, LLC and affiliated LLC's, a franchisee of Aaron's Sales & Lease Ownership since 1999. The stores are located in the metropolitan areas of Salt Lake City and Seattle, with one store in Reno, Nevada. The current revenue volume of the ten stores is approximately $925,000 per month. Aaron Rents, Inc., based in Atlanta, currently has more than 1,075 Company-operated and franchised stores in 45 states, Canada, and Puerto Rico for the rental and sale of residential and office furniture, accessories, consumer electronics and household appliances. The Company also manufactures furniture, bedding and accessories at 10 facilities in four states.