NEW YORK (AP) — Rent-A-Center is being sold to a private equity firm for more than $800 million.
The chain, which leases household goods on a rent-to-own basis, got a second offer from Vintage Capital Management for $15 per share, a 25 percent premium to the company’s closing price on Friday, and a dollar more per-share than Vintage bid the previous week. The Plano, Texas company said Monday that it’s accepted the second bid.
Rent-A-Center Inc. has been reviewing its plans over the past year, including a potential sale.
The sale to Vintage is expected to close by the end of 2018.
- Digital Sponsors -