Franchise Group completed the acquisition of American Freight Group from The Jordan Company for $450m.

Franchise Group, an operator of franchised and franchisable businesses, completed the acquisition of American Freight Group, which operates a chain of furniture and mattress stores, from The Jordan Company, a middle-market private equity firm, for $450m. “We are excited to welcome American Freight, its management team and employees to the Franchise Group. We have been diligently planning for the combination of American Freight with our Sears Outlet business to create one strong national brand that combines unmatched cash-on-cash unit economics with stability throughout economic cycles. We expect to achieve significant economic and operational synergies over time,” Brian Kahn, Franchise Group President & CEO.