Rent-Way acquires chain of 23 Midwest RTO stores
Article Abstract:
Rent-Way (Erie, PA) acquired yet another RTO. This one is Cari Rentals, with 23 stores based in the upper midwest. Cari has annual sales of about $8 million. Cari operates under the names of Budget Rentals and also Cari Rentals. With this acquisition, Rent-Way now has 407 stores in 25 states. Rent-Way will also acquire Home Choice with 800 stores, in a stock swap. Home Choice is a major competitor of Rent-Way. This merger is valued at $225 million. Rent-Way also acquired Fast Rental, a six store chain based in Georgia and Alabama. Based upon these, and other acquisitions, Rent-Way has an annual revenue of around $175 million. The Home Choice merger will increase the revenue to more than $110 million.
Comment:
Discusses Rent-Way's recent acquisitions of other RTOs, including Cari Rentals
Publication Name: Furniture-Today
Subject: Home furnishings industry
ISSN: 0194-360X
Year: 1998
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Hickory Springs buys Superior Foam, Ultra-Flex
Article Abstract:
Hickory Springs Mfg. of Hickory, NC, has purchased Ultra-Flex Corp. of High Point, NC, and Superior Foam Products of Cleveland, TN, for undisclosed amounts. Superior Foam's operations, together with its new cutting equipment, which will be absorbed into Hickory Springs' Eastern Division, is expected to contribute to the firm's growth in the eastern Tennessee area. Ultra-Flex, a manufacturer of elastic webbings for furnitures, will become a part of Hickory Springs' Foothills Inc. unit, the company's furniture supply division.
Comment:
Has purchased Ultra-Flex Corp of High Point, NC, and Superior Foam Products of Cleveland, TN, for undisclosed amounts
Publication Name: Furniture-Today
Subject: Home furnishings industry
ISSN: 0194-360X
Year: 1998
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Comment about this article or add new information about this topic:
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