ATLANTA, Feb. 23, 2022 /PRNewswire/ — The Aaron’s Company, Inc. (“Aaron’s”) (NYSE: AAN), a leading technology-enabled, omnichannel provider of lease-to-own and purchase solutions, today announced that it has entered into a definitive agreement to acquire BrandsMart U.S.A. (“BrandsMart”). Under the terms of the agreement, total consideration is approximately $230 million in cash, subject to certain closing adjustments, and the transaction is expected to close in the second quarter of 2022. With this transaction, we believe that Aaron’s will deliver over $3 billion in total annual revenues and over $300 million in adjusted EBITDA by year-end 2026.
Founded in 1977, BrandsMart is one of the leading appliance and consumer electronics retailers in the southeast United States and one of the largest appliance retailers in the country with ten stores in Florida and Georgia and a growing e-commerce presence on brandsmartusa.com. The company offers best-in-class pricing, a wide selection of brands, and thousands of products, including large and small appliances, consumer electronics, computers, furniture and other home goods. BrandsMart’s value proposition has attracted a loyal and recurring customer base, resulting in revenue, EBITDA, and free cash flow growth. For the twelve months ended December 25, 2021, BrandsMart generated revenues of $757 million and Adjusted EBITDA of $46 million.
“We are thrilled to announce our agreement to acquire BrandsMart, which we believe…
