Rent-to-own News

Rent-to-own News - Rent-A-Center acquires The Rental Store

December 23, 2010

Rent-A-Center the nation's largest rent-to-own operator, Wednesday announced the acquisition of The Rental Store (TRS), a Scottsdale, Arizona-based company that operates 145 rent to own kiosk location through third-party retail furniture and electronics stores.

The Company acquired TRS for $75.5 million on a debt free basis, using a portion of the purchase price to pay off all of TRS' existing debt.

"We are very excited about adding TRS to our RAC Acceptance business which we believe significantly accelerates the expansion of this growth initiative and increases our opportunities for further growth in this area," said Mark E. Speese, the Company's chairman and chief executive officer. "In addition, given our track record of successfully integrating acquisitions, we believe this transaction will create additional value for our stockholders, adding approximately $100 million in revenue and $15 million in operating income next year."

Rent-A-Center also announced it has sold a majority of its customer accounts at approximately 207 financial services store locations and will close seven financial services store locations in Montana at by the end of 2010.

 

About APRO
The Association of Progressive Rental Organizations is the official voice of the rent-to-own industry and the most accurate and trustworthy source of rent-to-own news in the industry. Founded in 1980, APRO is the national, nonprofit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media and the public.

For more information, visit www.rtohq.org.




2012 APRO Convention and Trade Show

July 24-26, Memphis, TN

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RTOHQ: The Magazine
RTOHQ: The Magazine is the Association of Progressive Rental Organizations' award-winning rent-to-own industry magazine, and it's available here.

CLICK HERE FOR OUR DIGITAL RTOHQ: THE MAGAZINE

 

RTOHQ: The Magazine’s upgraded digital format

APRO's new, mobile-ready magazine is now available in addition to our print edition. The digital format provides the same informative content as our printed magazine, but also offers tools to make the reading experience more enriching. Access the table of contents page with one click or tap. Get additional information from advertisers by clicking on the links in their ads. The interface is easy to navigate and requires no special app—read our magazine on your computer, digital table or smartphone. Click here to access the digital version of RTOHQ: The Magazine March-April 2012.

 

 

A New Rent-to-Own Experience

by Neil Ferguson

Here’s the lowdown on APRO’s 2012 Convention and Trade Show, July 24-26 in Memphis. The RTO industry’s big event will offer many valuable experiences, including insights on how to turn your stores into “experiences”–the good kind for consumers

 

Who Is Your Competition?

by Bill Keese

In order to expand your customer base, you can learn a lot by observing your competitors. But first, you need to figure out just who they are. If you think your only competition is the rent-to-own store down the street, you’re not considering the bigger picture. APRO’s executive director offers a big-picture perspective.

 

A Review of Online Customer Complaints

by Ed Winn III

While rent-to-own companies have not cornered the market on negative reviews posted on consumer complaint websites, it’s no surprise that there are cyberspace beefs against RTO. APRO’s general counsel reviews some of them in search of a pattern and he considers appropriate response to online complaints.

 

Rent-to-Own Families, Part VIII

by Kristen Card

Our series of family-run rent-to-own businesses continues with profiles of the Homeiers in Kansas and two Texas-based sets of kindred colleagues, the Spangles and the Weisblatts.

 

 

Future issues of APRO's magazine will be available in this same new format. Click here to access past issues that are not yet archived in the new interface.

 

Association of Progressive Rental Organizations
1504 Robin Hood Trail
Austin, Texas 78703
800/204-2776, ext. 103
Fax 512/794-0097