The Aaron's Company, Inc. Announces Change in Revolving Credit Facility
April 01, 2022 at 10:12 am EDT
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The Aaron's Company, Inc. announced the completion of its previously announced acquisition of BrandsMart U.S.A. for $230 million in cash plus customary closing adjustments. In connection with the closing of the BrandsMart acquisition, Aaron's replaced its existing $250 million
unsecured revolving credit facility with a new credit facility that includes an unsecured $375 million revolving
credit facility and a five-year $175 million unsecured term loan. At closing, Aaron's had approximately $117
million of borrowings outstanding under its revolving credit facility.
The Aaronâs Company, Inc. is a technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions for appliances, electronics, furniture, and other home goods across its brands, including Aaronâs, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven. The Company offers a direct-to-consumer lease-to-own solution through its approximately 1,240 Company-operated and franchised stores in 47 states and Canada, as well as its own e-commerce platform. BrandsMart U.S.A. is an appliance retailer in the country with about 11 retail stores in Florida and Georgia, as well as its e-commerce platform. BrandsMart Leasing offers lease-to-own solutions to customers of BrandsMart U.S.A. Woodhaven is the Company's furniture manufacturing division. The Companyâs business segment consists of Aaron's branded Company-operated and franchise-operated stores; aarons.com e-commerce platform (aarons.com); Woodhaven; and BrandsMart Leasing (collectively Aaronâs Business).
THE AARON'S COMPANY, INC. 
