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."