Rent-A-Center acquired assets of Merchants Preferred.

Rent-A-Center, an American public furniture and electronics rent-to-own company, acquired all assets of Merchants Preferred, a nationwide provider of virtual rent-to-own services. Financial terms were not disclosed. Mitch Fadel, Chief Executive Officer of Rent-A-Center, said, “The success and trajectory of our strategic plan have enabled us to focus on growing our business. The addition of the Merchants Preferred technology platform and its approximately 2,500 locations enables us to accelerate our expansion plans with respect to the Company’s virtual rent-to-own capabilities by at least 18 months. We are also excited to add the capabilities of the experienced Merchants Preferred management team. This acquisition positions us for growth and differentiates us from competitors, allowing us to offer both virtual and staffed solutions to our retail partners.”