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Aaron Rents, Inc. Acquires Six Franchised Stores


ATLANTA, Aug 03, 2005 /PRNewswire-FirstCall via COMTEX/ -- Aaron Rents, Inc. (NYSE: RNT), the nation's 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 six Aaron's Sales & Lease Ownership franchised stores located in the state of California.

"These stores expand our presence of Company-operated stores in California," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents. "The entire western United States is an area where we have substantial growth opportunities, both through the opening of Company- operated and franchised stores."

The stores were acquired from Sultan Financial Corporation, a franchisee of Aaron's Sales & Lease Ownership since 1997. The stores are located in Fontana, Ontario, Pico Rivera, Fullerton, Reseda, and Santa Ana. The current combined annual revenues of the six stores is approximately $6 million and the purchase price was $4.8 million cash, subject to final adjustments. Subsequent to this transaction, Sultan Financial will continue to operate nine franchised stores in California and has two additional stores currently under construction and scheduled to open within the next 90 days.

Aaron Rents, Inc. based in Atlanta, currently has more than 1,124 Company- operated and franchised stores in 46 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.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release regarding Aaron Rents, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include factors such as changes in general economic conditions, competition, pricing, customer demand and other issues, and the risks and uncertainties discussed under "Certain Factors Affecting Forward Looking Statements" in the Company's Annual Report on Form 10-K for fiscal 2004, which discussion is incorporated herein by this reference.

SOURCE Aaron Rents, Inc.

Gilbert L. Danielson, Executive Vice President, Chief Financial Officer of Aaron Rents, Inc., +1-404-231-0011, ext. 3334

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