Rent-A-Center said Monday that its board has accepted a $15-a-share offer from Florida-based Vintage Capital. The deal is valued at $1.365 billion, including debt.
The Florida-based private equity firm has invested in the rent-to-own business for some time. It's the controlling shareholder of Buddy's Home Furnishings, a fast-growing Florida-based competitor of Rent-A-Center. Buddy's is the third largest rent-to-own chain with 330 stores, mostly in the South, according to Vintage's website. . . . more