M&A Deal Summary

Franchise Group Acquires American Freight Group

On December 30, 2019, Franchise Group acquired retailer American Freight Group from TJC for 450M USD

Acquisition Highlights
  • This is Franchise Group’s 2nd transaction in the Retail sector.
  • This is Franchise Group’s 3rd largest (disclosed) transaction.
  • This is Franchise Group’s 3rd transaction in the United States.
  • This is Franchise Group’s 1st transaction in Ohio.

M&A Deal Summary
Date 2019-12-30
Target American Freight Group
Sector Retail
Buyer(s) Franchise Group
Sellers(s) TJC
Deal Type Add-on Acquisition
Deal Value 450M USD

Target

American Freight Group

Columbus, Ohio, United States
American Freight Group, Inc. is a furniture retailer. American Freight Group was founded in 1994 and is based in Columbus, Ohio.

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Buyer(S) 1

Buyer

Franchise Group

Virginia Beach, Virginia, United States
Category Company
Founded 2010
Sector Consumer Services
Employees4,758
Revenue 2.2B USD (2020)
DESCRIPTION

Franchise Group is a growing North American tax preparation company with over 2,800 stores open in the U.S. and Canada during the 2008 tax season. Franchise Group was founded in 2010 and is based in Virginia Beach, Virginia.

DEAL STATS #
Overall 3 of 7
Sector (Retail) 2 of 5
Type (Add-on Acquisition) 3 of 7
State (Ohio) 1 of 1
Country (United States) 3 of 7
Year (2019) 3 of 3
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-08 Vitamin Shoppe

Secaucus, New Jersey, United States

Vitamin Shoppe, Inc. is a specialty retailer and direct marketer of vitamins, minerals and nutritional supplements, offering a broad line of products at discounts to list prices. Vitamin Shoppe, Inc. was founded in 1977 and is based in Secaucus, New Jersey.

Buy $208M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-28 FFO Home

Fort Smith, Arkansas, United States

Furniture Factory Outlet (FFO Home) is a furniture retailer that provided the lowest prices to our customers day-in-and-day-out. The company operates 36 retail stores in Arkansas, Missouri, Oklahoma, and Kansas. FFO Home also manufactures bedding under the Comfort Coil and Natural Elements brands. The retailer offers superior value products priced below the competition and distinguishes itself by eschewing the showroom distribution model and allowing consumers to purchase products immediately from on-site inventory. FFO Home was founded in 1984 and is headquartered in Fort Smith, Arkansas.

Buy -

Seller(S) 1

SELLER

TJC

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.

DEAL STATS #
Overall 47 of 58
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 19 of 21
State (Ohio) 4 of 5
Country (United States) 46 of 56
Year (2019) 6 of 6
Size (of disclosed) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-10 Venari Resources

Addison, Texas, United States

Venari Resources LLC is an exploration and production company focused on the prolific oil-prone subsalt region in the Gulf of Mexico’s deep waters. Venari’s strategy centers on the exploration and development of high-potential oil prospects, initially through the acquisition of minority interests in prospects generated by capable operators and later through the generation of its own prospects. Venari Resources was formed in 2012 and is based in Addison, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-27 Borchers Group

Westlake, Ohio, United States

Borchers Group Ltd. is a provider of coating additive products support progress in colorants, coatings and coating systems - from the production stage through to applications we provide a complete systems approach. Borchers Group was established in 1940 and is based in Westlake, Ohio.

Sell -
Mergr

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