Rent-to-own News - Alliance Rental converts to Aaron Rents

Alliance Rental Centers, L.P., operator of ten stores throughout north Texas and owned by Kelly Sayre, will 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., which converted its Rent City stores to the Aaron's Sales & Lease Ownership franchise system in November. Alliance also has agreed to open three additional franchised Aaron's Sales & Lease Ownership stores over the next several years. All of the stores involved are located in Texas. "We are excited about Alliance joining our franchise program through the conversion of its stores into the Aaron's system," R. Charles Loudermilk, Sr., chairman and chief executive officer of Aaron Rents says in a statement. "We also feel numerous opportunities exist in the near future to convert other rental operators into Aaron's Sales & Lease Ownership franchisees."