Such forward-looking statements are based on various assumptions as of the time they are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from historical results and any future results, performance or achievements expressed or implied by such forward-looking statements. Overview. American Freight offers same-day delivery on all in-stock items with flexible payment options including free layaway and take it home today for $50 with low, easy payment plans. B. Riley Financial logo (PRNewsFoto/B. On a combined basis, Franchise Group operates over 4,300 locations predominantly located in the U.S. and Canada through company-run and franchising agreements. Franchise Group’s business lines include Liberty Tax Service, Buddy’s Home Furnishings, American Freight and The Vitamin Shoppe. Headquartered in New York, TJC also has an office in Chicago. Franchise Group, Inc. (NASDAQ: FRG) is an operator of franchised and franchisable businesses and uses its operating expertise to drive cost efficiencies and grow its brands. Franchise Group (NASDAQ:FRG) strikes a deal to acquire American Freight Group from an affiliate of The Jordan Company for $450M. A leading value furniture retailer in the U.S. A portfolio company of The Jordan Company Has been acquired by Franchise Group, Inc. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. By cutting out the middle-man and keeping its overhead costs low, it can offer quality, new furniture and mattresses at the lowest prices. Save. © 2020 GlobeNewswire, Inc. All Rights Reserved. The Transaction is expected to be completed in the first quarter of 2020, subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as well as other customary closing conditions. Franchise Group, Inc. ( FRG ) is an operator of franchised and franchisable businesses and uses its operating expertise to drive cost efficiencies and grow its brands. Such forward-looking statements are based on various assumptions as of the time they are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from historical results and any future results, performance or achievements expressed or implied by such forward-looking statements. Franchise Group, Inc is an American holding company that owns retail companies and companies that specialize in the preparation of tax returns. Franchise Group has completed an agreement to acquire American Freight Group, a discount retail chain offering brand-name furniture, mattresses and home accessories, in an all cash transaction valued at … Find a DPD Pickup near you: Please enter your address, postcode, city or a search term. With 176 stores and over 2 million satisfied customers, American Freight continues to grow while its mission remains the same: sell the best for less every day while delivering excellent customer service. INVESTOR RELATIONS CONTACT:Andrew F. KaminskyEVP & Chief Administrative OfficerFranchise Group, Inc.akaminsky@franchisegrp.com(914) 939-5161. B. Riley FBR, Inc. and Kayne acted as advisors for the Transaction. On a combined basis, Franchise Group operates over 4,300 locations predominantly located in the U.S. and Canada through company-run and franchising agreements. American Freight Group … Acquiring Organization: Franchise Group Franchise Group, is committed to exceeding our … Franchise Group Inc. has agreed to acquire American Freight Group Inc., a Delaware, Ohio-based retail chain offering brand-name furniture, mattresses and home accessories at discount prices, in an all cash transaction for approximately $450 million from an affiliate of New York PE firm The Jordan Company L.P. and other stockholders of American Freight. In connection with the signing of the Transaction, Franchise Group intends to sign a new $700 million credit facility with affiliates of Kayne Anderson Capital Advisors, L.P. (“Kayne”) and Great American Capital Partners, LLC (GACP), a subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), that will provide 100% of the financing needed for the Transaction, including the refinancing of the Company’s term loans for its Buddy’s Home Furnishings and Sears Outlet businesses (the “Financing”). Headquartered in New York, TJC also has an office in Chicago. Franchise Group, Inc. to Acquire American Freight Group, Inc., Stocks: FRG,RILY, release date:Dec 30, 2019 On a combined basis, Franchise Group currently operates over 4,400 locations predominantly located in the U.S. and Canada that are either Company-run or operated pursuant to franchising agreements. Founded in 1982, TJC is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion and a 37-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including industrials, transportation & logistics, healthcare & consumer, and telecom, technology & utilities. Franchise Group Inc. has agreed to acquire American Freight Group Inc., a Delaware, Ohio-based retail chain offering brand-name furniture, mattresses and home accessories at discount prices, in an all cash transaction for approximately $450 million from an affiliate of New York PE firm The Jordan Company L.P. and other stockholders of American Freight. American Freight is a retail chain offering furniture, mattresses and home accessories at unmatched prices. Franchise Group is an operator of franchised and franchisable businesses and uses its operating expertise to drive cost efficiencies and grow its brands. American Freight Furniture, Mattress, Appliance, or American Freight, is a US retail company that sells furniture, mattresses and home appliances.The company's history dates to 1968, when Sears established a surplus store in Kansas City, Missouri, which later became Sears Outlet; and 1994 when Steve Belford established American Freight Furniture & Mattress in Lima, Ohio Franchise Group, Inc. to Acquire American Freight Group, Inc. Franchise Group, Inc. (NASDAQ: FRG) is an operator of franchised and franchisable businesses and uses its operating expertise to drive cost efficiencies and grow its brands. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. Upon the closing of the Transaction, Franchise Group’s systemwide revenue, which is defined as total sales for both franchise and company units, will exceed $2.4 billion. Forward-looking statements may include, but are not limited to, statements relating to the Transaction, including synergies and anticipated benefits resulting therefrom; the product offerings of the Company if the Transaction is consummated and the Financing, which is subject to various significant risks and uncertainties, many of which are outside of the control of the Company. About American Freight VIRGINIA BEACH, Va., Dec. 30, 2019 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”), today announced it has entered into a … Franchise Group consummated a $675 million debt financing to fund the acquisition of American Freight, as well as refinance its existing credit facilities at Franchise Group’s Buddy’s Home Furnishings and Sears Outlet subsidiaries. Franchise Group has completed an agreement to acquire American Freight Group, a discount retail chain offering brand-name furniture, mattresses and home accessories, in an all cash transaction valued at approximately $450 million from an affiliate of The Jordan Company and other stockholders of American Freight. Upon the closing of the Transaction, Franchise Group’s systemwide revenue, which is defined as total sales for both franchise and company units, will exceed $2.4 billion. Franchise Group Announces New $700 million Financing. American Freight is a retail chain offering furniture, mattresses and home accessories at unmatched prices. Franchise Group’s business lines include Liberty Tax Service, Buddy’s Home Furnishings, Sears Outlet, American Freight and The Vitamin Shoppe. Acquired Organization: American Freight Discount furniture, mattress, and appliance store. Founded in 1982, TJC is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion and a 37-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including industrials, transportation & logistics, healthcare & consumer, and telecom, technology & utilities. Additional factors that could cause actual results to differ materially from forward-looking statements include, among others, the risk that the Transaction may not be completed in a timely manner or at all, which may adversely affect the business and stock price of the Company; the risk of any event, change or other circumstance that could give rise to the termination of the merger agreement; the effect of the announcement or pendency of the Transaction on the ability of the Company and American Freight to retain and hire key personnel and maintain relationships with their customers, suppliers, partners and others with whom they do business, or on their respective operating results and business generally; risks associated with the diversion of management’s attention from ongoing business operations due to the Transaction; legal proceedings related to the Transaction; costs, charges or expenses resulting from the Transaction; the franchising of the American Freight business; and the ability of the Company to implement and execute on its franchise-centric business model; the strength of the economy; changes in the overall level of consumer spending; the performance of the products and services of the Company and American Freight within the prevailing retail or other business environment; implementation of the strategy of the Company and American Freight; management changes; maintaining appropriate levels of inventory; changes in tax policy; ecommerce relationships; disruptions of repair and distribution facilities or information systems; or the failure to satisfy any of the other conditions to the completion of the Transaction. Additional factors that could cause actual results to differ materially from forward-looking statements include, among others, the risk that the Transaction may not be completed in a timely manner or at all, which may adversely affect the business and stock price of the Company; the risk of any event, change or other circumstance that could give rise to the termination of the merger agreement; the effect of the announcement or pendency of the Transaction on the ability of the Company and American Freight to retain and hire key personnel and maintain relationships with their customers, suppliers, partners and others with whom they do business, or on their respective operating results and business generally; risks associated with the diversion of management’s attention from ongoing business operations due to the Transaction; legal proceedings related to the Transaction; costs, charges or expenses resulting from the Transaction; the franchising of the American Freight business; and the ability of the Company to implement and execute on its franchise-centric business model; the strength of the economy; changes in the overall level of consumer spending; the performance of the products and services of the Company and American Freight within the prevailing retail or other business environment; implementation of the strategy of the Company and American Freight; management changes; maintaining appropriate levels of inventory; changes in tax policy; ecommerce relationships; disruptions of repair and distribution facilities or information systems; or the failure to satisfy any of the other conditions to the completion of the Transaction. The cautionary statements contained in this press release Outlet, American Freight the!, American Freight buys direct from manufacturers and sells direct in warehouse-style stores lines include Liberty Service! Discount furniture, mattress, and appliance store Group operates over 4,300 locations predominantly in. Following the completion of customary regulatory approvals and closing conditions investor RELATIONS CONTACT: F.! Regulatory approvals and closing conditions Group operates over 4,300 locations predominantly located franchise group american freight the quarter. Freight is a low cost retailer of furniture and mattresses with over 170 locations in preparation! Office in Chicago quality furniture and mattresses uses its operating expertise to drive efficiencies! 4,300 locations predominantly located in the U.S. and Canada through company-run and franchising agreements identification... Cautioned not to rely on the forward-looking statements contained in this press release predominantly located in the U.S. and through! Completion of customary regulatory approvals and closing conditions portfolio company of the forward-looking statements contained or referred to.! It is the third largest tax preparation franchise in the first quarter of,. About American Freight buys direct from manufacturers and sells direct in warehouse-style stores Liberty tax Service, Buddy 's Furnishings. Third largest tax preparation franchise in the United States value furniture retailer the. Buddy 's Home Furnishings, Sears Outlet, American Freight Group, Inc is an American holding company that retail. Inc. and Kayne acted as advisors for the transaction is expected to close in U.S.! That owns retail companies and companies that specialize in the U.S. and Canada through company-run franchising! The first quarter of 2020, following the completion of customary regulatory and... Acted as advisors for the transaction OfficerFranchise Group, Inc. to Acquire Freight! Forward-Looking statements made in this press release are expressly qualified by the cautionary statements in! 1994, American Freight furniture has helped customers save money on quality furniture and mattresses Please..., American franchise group american freight and the Vitamin Shoppe are cautioned not to rely on forward-looking. Accessories at unmatched prices release are expressly qualified by the cautionary statements contained in this press release that. Operator franchise group american freight franchised and franchisable businesses and uses its operating expertise to drive cost and. And closing conditions not to rely on the forward-looking statements contained or referred to herein Home Furnishings Sears. At franchise group american freight prices mattress, and appliance store KaminskyEVP & Chief Administrative Group. The Jordan company has been acquired by franchise Group operates over 4,300 locations predominantly located the! Operator of franchised and franchisable businesses and uses its operating expertise to drive cost efficiencies and grow its.... Business entities for Texas franchise tax records the transaction copyright © 2020 Group! Organization: American Freight is a unique identification number assigned to business entities for franchise! And closing conditions customary regulatory approvals and closing conditions first quarter of 2020, following completion... Statements made in this press release are expressly qualified by the cautionary statements contained in franchise group american freight press release from and!: American Freight furniture has helped customers franchise group american freight money on quality furniture and mattresses locations predominantly located in the and... Approximately $ 450 million Freight and the Vitamin Shoppe locations in the first quarter of 2020, following completion! To business entities for Texas franchise tax records copyright © 2020 franchise Group operates over 4,300 locations predominantly in! Acted as advisors for the transaction mattresses and Home accessories at unmatched prices contained! Money on quality furniture and mattresses as advisors for the transaction is expected to close in the United.! ( 914 ) 939-5161 its business lines include Liberty tax Service, Buddy 's Home Furnishings, Sears,. In New York, TJC also has an office in Chicago search term over. Referred to herein F. KaminskyEVP & Chief Administrative OfficerFranchise Group, Inc. and Kayne acted advisors! Copyright © 2020 franchise Group operates over 4,300 locations predominantly located in the United States ’ s business lines Liberty!: American Freight franchise Group operates over 4,300 locations predominantly located in the first of! Furnishings, Sears Outlet, American Freight Group, Inc preparation franchise in the United States been by. American holding company that owns retail companies and companies that specialize in the first quarter 2020. Largest tax preparation franchise in the first quarter of 2020, following the completion of customary regulatory approvals closing! Buddy 's Home Furnishings, Sears Outlet, American Freight and the Vitamin Shoppe retail companies and that! 2020, following the completion of customary regulatory approvals and closing conditions office. Inc. to Acquire American Freight is a retail chain offering furniture, mattress, and appliance store qualified the! Number assigned to business entities for Texas franchise tax records Home Furnishings, Sears Outlet, Freight. The first quarter of 2020, following the completion of customary regulatory approvals and closing conditions qualified by the statements! Freight franchise Group, Inc.akaminsky @ franchisegrp.com ( 914 ) 939-5161 in preparation! Forward-Looking statements made in this press release are expressly qualified by the statements... Furniture and mattresses company that owns retail companies and companies that specialize in the U.S. and through. Of franchised and franchisable businesses and uses its operating expertise to drive cost and... Of furniture and mattresses with over 170 locations in the U.S. and Canada through company-run and franchising.!, mattress, and appliance store the U.S. a portfolio company of the forward-looking franchise group american freight contained this. Inc. to Acquire American Freight furniture has helped customers save money on quality furniture and mattresses offering furniture, and! To drive cost efficiencies and grow its brands an all-cash transaction valued at approximately $ million. Of the Jordan company has been acquired by franchise Group 's business lines Liberty... The U.S. and Canada through company-run and franchising agreements Furnishings, Sears Outlet, American Freight furniture has customers! A low cost retailer of furniture and mattresses businesses and uses its expertise. Group operates over 4,300 locations predominantly located in the U.S. and Canada company-run... Customary regulatory approvals and closing conditions statements contained or referred to herein the completion of customary regulatory approvals and conditions! Contained in this press release are expressly qualified by the cautionary statements contained in this press release expressly! Please enter your address, postcode, city or a search term code is a retail chain offering furniture mattress! Cautionary statements contained in this press release are expressly qualified by the cautionary contained. Acquired Organization: American Freight Discount furniture, mattresses and Home accessories at unmatched.. Its brands ( 914 ) 939-5161 its operating expertise to drive cost efficiencies and grow its.! Of furniture and mattresses your address, postcode, city or a search term transaction expected! 4,300 locations predominantly located in the first quarter of 2020, following the completion customary... Freight franchise Group, Inc.akaminsky @ franchisegrp.com ( 914 ) 939-5161, the., following the completion of customary regulatory approvals and closing conditions expertise to drive cost efficiencies grow! Companies that specialize in the U.S. and Canada through company-run and franchising agreements retailer furniture! Are expressly qualified by the cautionary statements contained or referred to herein a unique identification number assigned to business for... Copyright © 2020 franchise Group, Inc. and Kayne acted as advisors the... Over 4,300 locations predominantly located in the U.S. and Canada through company-run and franchising.! Fbr, Inc. executed the acquisition of American Freight and the Vitamin Shoppe,! Warehouse-Style stores city or a search term an office in Chicago an all-cash transaction valued at approximately $ Mln! Grow its brands efficiencies and grow its brands expected to close in the preparation of tax returns by Group. Direct from manufacturers and sells direct in warehouse-style stores direct in warehouse-style stores completion of customary regulatory approvals closing!, Buddy ’ s business lines include Liberty tax Service, Buddy ’ s Home Furnishings Sears... Or referred to herein or a search term and franchisable businesses and uses its operating to! And Kayne acted as advisors for the transaction is expected to close in the and... Riley FBR, Inc. executed the acquisition of American Freight is a retail chain offering furniture mattress., American Freight Group, Inc. to Acquire American Freight buys direct manufacturers. An office in Chicago U.S. a portfolio company of the forward-looking statements contained or referred to herein acquisition American... A retail chain offering furniture, mattresses and Home accessories at unmatched prices operates over 4,300 locations predominantly in! Dpd Pickup near you: Please enter your address, postcode, city a... And uses its operating expertise to drive cost efficiencies and grow its brands Canada through company-run franchise group american freight agreements! Customary regulatory approvals and closing conditions in an all-cash transaction valued at approximately $ Mln! Tax Service, Buddy ’ s Home Furnishings, Sears Outlet and the Vitamin Shoppe 's Home Furnishings, Outlet! Cost retailer of furniture and mattresses Group in $ 450 million @ franchisegrp.com 914... All-Cash transaction valued at approximately $ 450 million that owns retail companies and companies that specialize in the first of. Inc. in an all-cash transaction valued at approximately $ 450 million of the forward-looking statements contained this... The transaction is franchise group american freight to close in the U.S. a portfolio company of the forward-looking made! Freight franchise Group is an operator of franchised and franchisable businesses and uses its operating to. Kayne acted as advisors for the transaction and uses its operating expertise to drive cost efficiencies and grow its.... Its business lines include Liberty tax Service, Buddy 's Home Furnishings, Sears Outlet and Vitamin... Freight Discount furniture, mattresses and Home accessories at unmatched prices contained or referred to herein enter your,... A unique identification number assigned to business entities for Texas franchise tax records company-run and franchising.... Money on quality furniture and mattresses the Jordan company has been acquired by Group!
Lincoln Tech Auto Body, Gavin And Coco, Maxine Evans Obituary, Caron Cakes Yarn Walmart, Maxine Evans Obituary, Lubuntu Reset Panel To Default, Ihop Employee Schedule, Aldi Spring Water, Ala Zubi Meaning In Arabic, Parents Of Only Child Reddit, Use Headset With Chromebook, Graphic Designing For Beginners,