ORLANDO, Fla., Dec. 28, 2020 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) today announced it has completed the acquisition of FFO Home, a regional retailer of furniture and mattresses. Starting immediately, over 30 FFO Home stores throughout the Midwest will be rebranded to American Freight Furniture, Mattress, Appliance. In addition, FFO Home customers will be automatically redirected to the American Freight website for online shopping. The converted stores will offer affordable prices, new product offerings, and financing solutions to help better serve consumers in each local market. Stores will remain open and operational as they undergo the conversion. A Grand Reopening event for the rebranded stores is scheduled for the first quarter of 2021.
“The FFO Home acquisition allows American Freight to accelerate its growth plans, including new market entries,” said Brian Kahn, CEO of Franchise Group, Inc. “It provides customers who used to shop at FFO Home with an enhanced customer experience, with additional products and payment options.”
As the stores rebrand, core American Freight product choices and services will be available immediately, most notably the addition of appliances. Consumers will also enjoy the availability of same-day-delivery on in-stock items, and American Freight will continue making quality items accessible to everyone with flexible payment options for online and in-store purchases.
“We are excited about the FFO Home acquisition,” said Will Powell, CEO and President of American Freight. “Our ability to use this acquisition to quickly enter many new markets where we do not currently have a presence, and preserve local jobs that might have otherwise been lost had FFO Home stores permanently closed, made this a win-win for American Freight and these communities we will now have the opportunity to serve.”
About American Freight
Since 1994, American Freight Furniture and Mattress has been helping customers save money on quality furniture and mattresses. In 2020, American Freight combined with Sears Outlet, a leading national discount retailer of home appliances, and FFO Home, a regional retailer of furniture and mattresses, to create a new American Freight. The enhanced American Freight leverages the strong legacies of the founding organization to deliver consumers a one-stop-shop for quality furniture, mattresses and appliances at everyday low prices in over 350 locations, in 40 states and Puerto Rico.
With over 5 million satisfied customers, American Freight continues to grow true to its founding principles: sell the best quality merchandise for less every day while delivering exceptional customer service. American Freight continues to deliver on its commitment of take it home today with same-day delivery available for all in-stock items, with payment plan options for every customer, including free layaway, no credit required and other credit options with low, easy payments. For more information, visit AmericanFreight.com.
About Franchise Group
Franchise Group is an operator of franchised and franchisable businesses that continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophy to generate strong cash flow for its shareholders. Franchise business lines include Liberty Tax Service, Buddy’s Home Furnishings, American Freight and The Vitamin Shoppe. On a combined basis, Franchise Group currently operates over 4,000 locations predominantly located in the U.S. and Canada that are either Company-run or operated pursuant to franchising agreements.
