The Aaron’s Company acquired BrandSmart U.S.A.
- Background: BrandsMart U.S.A. (“BrandsMart”), based in Fort Lauderdale, FL, is a leading Southeast U.S. appliance and electronics retailer, offering a wide selection of brands, and thousands of products, including appliances, consumer electronics and computers, furniture, and other home goods.
- Cassel Salpeter:
- Served as financial advisor to the company
- Facilitated the due dilligence process, working closely with the team to expeditiously and clearly answer acquirer’s questions
- Assisted in the structuring, negotiating, and closing of the transaction
- Challenges:
- Ensured the desires were met to carry on the company legacy after decades of family ownership
- As it was an unsolicited transaction, the seller was not fully prepared for the nuances of a sales process
- Extensive due dilligence process without interrupting business, while working to meet the timing needs of a public company acquirer
- Outcome: In April 2022, BrandsMart was acquired by The Aaron’s Company (NYSE: AAN), a leading technology-enabled, omnichannel provider of lease-to-own and purchase solutions with headquarters in Atlanta, GA.
