Aaron Rents, Inc. Announces Franchise Transaction With Kelly Rentals; Awards Additional Franchise Territory

Atlanta, /PRNewswire-FirstCall via COMTEX/ -- Aaron Rents, Inc. (NYSE: RNT), the nation's leader in sales and lease ownership, specialty retailing and rental of residential and office furniture, consumer electronics and home appliances and accessories, today announced it has entered into an agreement with Kelly Rentals, Inc., operator of 23 Kelly's Sales & Leasing stores in North Carolina and Virginia, to convert its stores to franchised Aaron Rents stores.

The stores will enter the Aaron's franchise system and operate as Aaron's Sales & Lease Ownership stores. Due to some geographic overlaps between the Kelly's stores and currently operating Aaron's stores, the transaction will involve several acquisitions, dispositions, and account mergers between Kelly's, Aaron's, and several of Aaron's current franchisees. After the transaction is completed, Kelly's will operate 15 Aaron's stores in Virginia and 3 Aaron's stores in North Carolina.

Kelly's has also entered into an area development agreement to open three additional franchised Aaron's Sales & Lease Ownership stores over the next several years.

"We are extremely pleased to announce this store conversion transaction with Kelly's," said Ken Butler, Chief Operating Officer of Aaron Rents. "Last month marked the 25th anniversary of Kelly's operations and we are excited to have them bring their knowledge and expertise into the Aaron's system. It is apparent from this transaction that they also see great value in joining our well-established, highly successful franchise program. We are eager to explore the numerous opportunities that exist in the future to convert other rental operators into Aaron's Sales & Lease Ownership franchisees."

Aaron Rents, Inc., based in Atlanta, currently has more than 1,557 Company-operated and franchised stores in 48 states and Canada. The Company's MacTavish Furniture Industries division manufactured approximately $69 million at cost of furniture and bedding at 12 facilities in five states in 2008. The entire production of MacTavish is for shipment to Aaron Rents stores.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release regarding Aaron Rents, Inc.'s business that 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 "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007.

SOURCE Aaron Rents, Inc.


Share this Story:


comments powered by Disqus

Franchise News Room »

News By Industry »

Featured Opportunities

Sbarro, LLC
An award-winning franchise company, Sbarro is known for selling XL NY pizza by the slice with dough made in-house daily & 100% Whole Milk...
Ziggi's Coffee
There's nothing quite like the perfect cup of coffee. It wakes you up and gets you on the right path. Now, you've got the chance to build a lifestyle...
ShakeAway is a unique global company with stores popping up all over the world! Get involved in this fun, fast growing and profitable franchise now...
Which Wich® Superior Sandwiches
Which Wich is changing the franchising game with our fun, personalized, and incredibly attractive business approach.
CoCo Crêpes, Waffles & Coffee
Coco Crepes, Waffles & Coffee is a place that feels like home. Our mission is to satisfy our guests' cravings with delicious Crepes, Waffles...

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)