Alliance Rental Centers Joins Aaron Rents, Inc.

Furniture World Magazine

Aaron Rents, Inc., a leader in the sales and lease ownership, specialty retailing and rental of residential and office furniture, consumer electronics and home appliances and accessories, announced it has entered into an agreement with Alliance Rental Centers, L.P., operator of ten stores throughout north Texas, to convert seven of 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. In addition, as part of the transaction, Alliance will acquire one of Aaron's current Company-operated stores and merge it with its newly franchised Aaron's Sales & Lease Ownership store in Wichita Falls, Texas. Simultaneously, Aaron Rents will acquire two of Alliance's other stores and merge them into existing Company-operated Aaron's Sales & Lease Ownership stores. Alliance will sell its remaining store to Briley Investments, Inc. who converted its Rent City stores to the Aaron's Sales & Lease Ownership franchise system last month. Alliance has also entered into an area development agreement to open three additional franchised Aaron's Sales & Lease Ownership stores over the next several years. All of the stores involved are located in the state of Texas. "We are excited about Alliance joining our franchise program through the conversion of its stores into the Aaron's system," said R. Charles Loudermilk, Sr. Chairman and Chief Executive Officer of Aaron Rents. "We also feel numerous opportunities exist in the near future to convert other rental operators into Aaron's Sales & Lease Ownership franchisees." Aaron Rents, Inc. based in Atlanta, currently has more than 1,300 Company- operated and franchised stores in 47 states and Canada 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 12 facilities in five states.