Aaron Rents Inc. has inked a deal with Alliance Rental Centers LP to convert seven Alliance Rental stores to franchised Aaron Rents stores.
The seven stores will join Aaron’s franchise system and operate as Aaron’s Sales & Lease Ownership stores. As part of the deal, Alliance will buy 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.
Atlanta-based Aaron Rents (NYSE: RNT) in turn will buy 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., which converted its Rent City stores to the Aaron’s Sales & Lease Ownership franchise system in November.
Alliance Rental also signed an area development agreement to open three more franchised Aaron’s Sales & Lease Ownership stores in Texas over the next several years.