Warranty provider Assurant, Inc. has acquired MMI-CPR LLC, which operates as Cell Phone Repair (CPR), one of the largest global franchisors of mobile device repair stores with more than 700 locations. The CPR franchise provides a wide variety of same-day electronic device repairs and offers consumers the ability to sell and buy devices at their local CPR stores. According to the announcement statement, the move positions franchisees for diversification and growth of their businesses.
Assurant acquired CPR from a subsidiary of investment firm Merrymeeting Group and a third party. Financial terms of the transaction were not disclosed, and the announcement statement said that CPR will continue to operate as a standalone company.
“Acquiring CPR is a part of our ongoing efforts to improve the customer experience by expanding options for service and support where, when and how consumers want,” said Manny Becerra, president for Global Connected Living at Assurant. “Assurant also is committed to helping CPR franchisees diversify their businesses through new products and services.”
John Davies, founder of the Merrymeeting Group, stated: “Franchisees will gain the benefits from Assurant’s financial strength and expertise in connected devices to help differentiate and grow their businesses, while providing a superior customer experience. Plus, as an innovative, fast-growing mobile support and protection provider, Assurant is well-positioned to help continuously drive new traffic to CPR stores.”