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AARON RENTS ACQUIRES BUDGET FURNITURE RENTAL WITH STORES IN LOS ANGELES AND TUCSON

 ATLANTA, June 17 /PRNewswire/ -- Aaron Rents, Inc. (NASDAQ: ARONA ARONB), the nation's largest furniture rental and sales company, today announced it had acquired substantially all of the assets of Budget Furniture Rental with stores in Los Angeles and Tucson, Ariz.
 The transaction was for cash and terms were not disclosed.
 "This provides Aaron Rents entry into the California market and expands our presence in Arizona, where we recently acquired stores in the Tucson and Phoenix markets via acquisitions as a part of our continuing expansion program," said R. Charles Loudermilk Sr., chairman and chief executive officer of Aaron Rents. "The Budget Furniture acquisition was a very attractive purchase in view of the most favorable price and the quality of assets acquired."
 Budget Furniture Rental, based in Los Angeles has been in business over 20 years. Budget has four stores in Los Angeles and one in Tucson.
 Aaron Rents expanded in the Arizona and Nevada markets in the past two months with the acquisition of Mayo's Furniture Rental store in Tucson, Phoenix and Las Vegas.
 Aaron Rents, Inc., based in Atlanta, at present operates 165 stores in 21 states for the rental and sale of residential and office furniture and equipment. The company also produces furniture at five plants in Georgia and Florida.
 -0- 6/17/93
 /CONTACT: Gilbert L. Danielson, vice president-Finance, chief financial officer of Aaron Rents, 404-231-0011/
 (ARONA ARONB)


CO: Aaron Rents, Inc.; Budget Furniture Rental ST: Georgia, Arizona, California IN: REA SU: TNM

RA-BR -- AT008 -- 3224 06/17/93 15:25 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
Words:255
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