Aaron Rents Acquires Rosey Rentals

December 16, 2008  by in UnCategorized   

By Home Furnishings Business in Acquisition on December 17, 2008

Aaron Rents Inc. announced on Tuesday that it has acquired all the stores of Rosey Rentals LP, a franchisee since 2003.

Rosey Rentals operated 35 Aaron's Sales & Lease Ownership franchised stores in six southeastern states with total annual revenues of approximately $45 million. The stores will now be company-operated.

"As in the past, we continue to make acquisitions of franchisees when it is of mutual benefit," said Robert C. Loudermilk Jr., president and CEO of Aaron Rents. "Rosey Rentals has been a good franchisee and we hope to continue our relationship in some form in the future. This transaction should add approximately 3 percent to our top-line growth in 2009 and is expected to be accretive to earnings."

Aaron Rents currently has more than 1,535 company-operated and franchised stores in 48 states and Canada. The company's MacTavish Furniture Industries division manufactured approximately $73 million at cost of furniture and bedding at 12 facilities in five states in 2007. The entire production of MacTavish is for shipment to Aaron Rents stores.