CORT, an office furniture and corporate relocation services company acquired by Warren Buffett’s Berkshire Hathaway eight years ago, has acquired Aaron Rents Corporate Furnishings for $72 million.
CORT says the acquisition makes it the only national furniture rental company, with locations in more than 70 metropolitan areas. Aaron Rents operates rent-to-own furniture rental stores.
“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 company and continue to broaden the differentiation between the company and its competitors,” Fairfax-based CORT said in a statement.
In January, Berkshire Hathaway (NYSE: BRK/A) acquired Roomservice Group, a furniture rental company in the U.K.
Berkshire Hathaway acquired CORT, then Cort Business Services, for $467 million in 2000.
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