Brief: Aaron's Company Says Has Entered Into A Definitive Agreement To Acquire Brandsmart U.S.A.

Aaron's

24/02/2022 01:45

Feb 23 (Reuters) - Aaron's Company Inc  AAN.N :
    * WITH THIS TRANSACTION, CO BELIEVES AARON'S WILL DELIVER
OVER $3
BILLION IN TOTAL ANNUAL REVENUES BY YEAR-END 2026
    * HAS ENTERED INTO A DEFINITIVE AGREEMENT TO ACQUIRE
BRANDSMART
U.S.A.
    * UNDER TERMS, TOTAL CONSIDERATION IS ABOUT $230 MILLION IN
CASH,
AND TRANSACTION IS EXPECTED TO CLOSE IN Q2 OF 2022
    * TRANSACTION IS EXPECTED TO BE ACCRETIVE TO 2022 ADJUSTED
EBITDA
AND NON-GAAP EPS
    * AARON'S COMPANY - CO EXPECTS TO MAINTAIN CURRENT DIVIDEND
POLICY
AND CONTINUE OPPORTUNISTICALLY REPURCHASING SHARES UNDER ITS
EXISTING AUTHORIZATION
    * AARON'S COMPANY - CO HAS SECURED $200 MILLION FINANCING
COMMITMENT FROM TRUIST BANK, BANK OF AMERICA, N.A., JPMORGAN
CHASE BANK AND CITIZENS BANK

Source text for Eikon:  ID:nPn7kD0Q8a 
Further company coverage:  AAN.N 

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