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

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.

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

ProSource Wholesale
ProSource is America's largest wholesale home improvement franchise; a truly unique B2B franchise model. Our owners enjoy strong cash flow with...
Fantastic Sams
Fantastic SamsĀ® is one of the most recognized brands in the hair care industry with nearly 1,200 full-service salons in North America and 40 years...
Tutor Doctor
Tutor Doctor is revolutionizing the private tutoring industry by helping children achieve their academic goals utilizing a one-to-one tutoring...
RedBrick Pizza
At RedBrick Pizza (R), old world traditions meet new world recipes to create a better-for-you pizza experience. Baking pizzas to perfection at 1000...
Miracle Leaf Health Centers
Are you interested in opening a franchise location of Miracle Leaf? Contact us today for more information!
Share This Page

Subscribe to Franchising Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.