Aaron’s Company to be Acquired by IQVentures Holdings for $504 Million in Cash

Lease-to-own furniture retailer Aaron’s Company, Inc. (AAN) entered into a definitive agreement on June 17, 2024, with fintech firm IQVentures Holdings, LLC,  to be acquired for an enterprise value of about $504 million.

Deal Structure:

Under this agreement, IQVentures will acquire Aaron’s Company at a purchase price of $10.10 per share in cash, representing a premium of 33.95% from the stock’s last close.

Company Profile:

Headquartered in Atlanta, The Aaron’s Company, Inc. provides lease-to-own and retail purchase solutions for home goods through its brands—Aaron’s, BrandsMart U.S.A, BrandsMart Leasing, and Woodhaven—via 1,220 stores in 47 states and Canada, and online.

IQVentures is based in the Columbus, Ohio area, and invests in and builds future-shaping technology companies, leveraging its expertise in consumer and business financing and proprietary technology to drive value.

Deal Details and Timeline:

Upon completion of the transaction, which is expected to close by the end of the year, Aaron’s Company will become a privately held company.

Aaron’s current EV/EBITDA (TTM) ratio is 5.29, below the sector median of 10.61.

After the transaction closes, The Aaron’s Company will retain its existing brand names and continue to be headquartered in Atlanta, Georgia.

Deal Metrics:

For a deeper understanding of this merger and acquisition transaction, you are encouraged to visit the Deal Metrics page at this link:

Deal Metrics for the acquisition of Aaron’s Company, Inc. (AAN) by IQVentures Holdings, LLC

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Progress report of the merger covering the HSR period, regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And much more useful information.

Disclaimer: Please ensure that you carry out your own due diligence before buying or selling any securities mentioned in this article. We do not guarantee the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article