Rent-A-Center agrees to acquire Acima Holdings for $1.27 billion cash - Furniture Today
Rent-A-Center’s $1.27B deal to buy Acima signals a new era of dominance in virtual lease-to-own options for furniture retailers.
Curated by Financing Your Way from original reporting by Google News: Acima. Summary is AI-assisted and editorially reviewed — see our editorial standards.
Rent-A-Center is significantly expanding its reach into third-party retail with the $1.27 billion acquisition of Acima Holdings. For furniture retailers and operators, this signals a massive consolidation in the virtual lease-to-own (LTO) space. Rent-A-Center is moving beyond its traditional brick-and-mortar storefronts to compete directly with companies like Progressive Leasing. By bringing Acima under its wing, Rent-A-Center will offer a more robust digital and point-of-sale platform. Retailers can expect a push for more integrated financing technology at the register. The combined company aims to bridge the gap between traditional retail and the credit-constrained consumer. This means more options for customers who don't qualify for prime financing but want to take home furniture today. For your business, this could mean better LTO technology and higher approval rates as the scale of the lender increases. However, it also means fewer independent choices in the LTO vendor market. You should monitor how this affects merchant fees and the 'waterfall' of financing options you provide at checkout. The deal highlights that 'no-credit-needed' options are becoming a standard expectation for the modern furniture shopper.
Source: Google News: Acima