CORT, a Berkshire Hathaway company (NYSE: BRK.A and BRK.B), further
advanced its leadership of the nation’s
furniture rental industry with the acquisition of Aaron Rents Corporate
Furnishings Division.
The $72 million acquisition, which required federal regulatory approval,
was finalized today. Aaron Rents will continue its operations in the “rent
to own” furniture category.
Since becoming a part of Berkshire Hathaway in February 2000, CORT has
continued to increase its share of the furniture rental market through
organic growth and acquisitions. The Aaron Rents deal expands CORT’s
geographic coverage to more than 70 of the top metropolitan areas in the
United States, making CORT the only national furniture rental company.
In addition, CORT now offers a broad range of services through its
United Kingdom division, Roomservice by CORT, as well as its global
affiliate program with representation in more than 50 countries. Along
with continued investment in its furniture rental core competency, CORT
has also greatly expanded its services to increase value to businesses
and individuals in transition.
Moving far beyond furniture rental, CORT now offers a wide range of
solutions to help corporations recruit and retain top talent, rapidly
deploy key employee teams, effectively manage assets, develop continuity
and disaster recovery plans and much more.
With services including apartment locating, housing and market
orientation tours, car rentals, hotel and extended stay reservations,
moving and storage solutions, spousal support services, utility
connections and renters insurance, CORT can customize programs which
make transitions easy through a single point of contact.
At a time when many companies are delaying initiatives, CORT is
following the strategies espoused by its parent company, Berkshire
Hathaway – invest in what is best for the long
term value of the company and continue to broaden the differentiation
between the company and its competitors.
About CORT
For more than 35 years, CORT has been a leading provider in rental
furniture and has provided services to more than 80 percent of the
Fortune 500 companies. CORT has more than 2,500 employees with offices
in every major U.S. market. For more information about CORT, visit www.cort.com.
Largemouth Communications
Amanda Denton, 919-459-6456
amanda@largemouthpr.com
