by PLANO, Texas – Rent-A-Center, Inc., the parent entity for Rent-A-Center®, Acima® and other consumer brands, today announced it will now be known as Upbound Group, Inc., an omni-channel platform company that enables a broader range of consumers to access flexible financial solutions. The Company will begin to trade under the ticker NASDAQ: UPBD starting on February 27th.
“Two years ago, Rent-A-Center, Inc. closed on its acquisition of Acima Holdings, almost doubling the size of the company and dramatically changing both organizations,” said Mitch Fadel, chief executive officer of Upbound. “We are now a unified, multi-brand platform company that includes more than just the Rent-A-Center business. We are thrilled to launch Upbound, a new enterprise brand and operating structure that will better serve our business and mission. This announcement is a significant milestone in our evolution and strategic plan, as we strive to offer more inclusive financial solutions that address the changing and growing needs of consumers.”
As the corporate enterprise brand for all of the company’s businesses, Upbound will provide strategic planning and shared services that will be leveraged across the organization to support and lead the development of innovative, inclusive, and technology-driven solutions that address the needs and aspirations of consumers. The company will continue to go to market under its operating brands, including Rent-A-Center, a 50-year-old lease-to-own retail channel with over 2,400 stores, and Acima, a leader in the third-party, virtual lease-to-own industry.
“Upbound is more than a brand,” Fadel said. “It represents a new enterprise operating model to better capitalize on existing synergies and resources, execute commercial operations and cross-brand strategies, and innovate with existing and new products. Based on our experience and relationships with millions of our own customers, we have the data and analytics capabilities to offer them a broader set of financial solutions, including targeted credit and point-of-sale loan products. Upbound can help elevate our customers, providing them with greater access and a path towards financial flexibility.”
For more information about Upbound, visit www.Upbound.com.
