Home Furnishing Stores M&A » By The Online Investor Staff, updated Tue., Sep. 17, 8:22 AM
Recent mergers and acquisitions in the Home Furnishing Stores M&A category.
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Slide #1. Aaron's, Inc. — Progressive Finance Holdings, LLC
Acquirer:
Aaron's, Inc. (NYSE:AAN)
Acquiree:
Progressive Finance Holdings, LLC
Details:
Aaron's, Inc. (NYSE:AAN) the leading lease-to-own specialty retailer that offers flexible payment options for credit-challenged individuals, today announced that it has acquired Progressive Finance Holdings, LLC ("Progressive"), a merchandise lease-to-own company from Summit Partners, in an all-cash transaction valued at approximately $700 million. Aaron's expects the transaction to be double digit accretive to cash earnings per share in 2014 and significantly more accretive in 2015.
Aaron's is a provider of lease-purchase solutions. Co. is engaged in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Co.-operated and franchised stores in several states and Canada as well as its e-commerce platform, Aarons.com. Co.'s stores carry brands such as Samsung®, Hewlett-Packard®, LG®, Whirlpool®, Simmons®, Philips® and Ashley®. Co.'s operating segments include Progressive Leasing, a virtual lease-to-own company that provides lease-purchase solutions; Aaron's Business, which provides consumer electronics and accessories; and Dent-A-Med, Inc., which provides a variety of revolving credit products.
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List of Home Furnishing Stores Mergers & Acquisitions in this Slideshow:
11/11/2012:
Acquirer: Leon's Furniture Limited (LNF.CA)
Acquiree: The Brick Ltd. (BRK.CA)
Merger/Acquisition details: details »
1/21/2014:
Acquirer: Rent-A-Wheel /Rent-A-Tire
Acquiree: Aaron's RIMCO Stores (AAN)
Merger/Acquisition details: details »
4/15/2014:
Acquirer: Aaron's, Inc. (AAN)
Acquiree: Progressive Finance Holdings, LLC
Merger/Acquisition details: details »
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Avg. Broker Rec.
 
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Strong Buy (3.75 out of 4) 73rd percentile
(ranked higher than approx. 73% of all stocks covered)
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