Acima Named Exclusive Lease-to-Own Provider by Big Brand Tire & Service

Rhea-AI Summary

Acima Leasing renews multi-year agreement with Big Brand Tire & Service to serve as the exclusive lease-to-own provider for their 200+ locations in Arizona, California, Colorado, and Nevada.

Positive

• Acima's partnership renewal with Big Brand Tire & Service strengthens their position as a leading provider of lease-to-own solutions in the tire and auto service industry.
• The collaboration expands Acima's portfolio of shopping options for customers, providing them with a more flexible way to obtain tires and wheels through lease-purchase transactions.
• Acima's proprietary technology and focus on innovative technology make integration simple for retailers, opening doors for credit-challenged consumers to access the products they need.

Negative

• None.

Acima Collaborates with Big Brand & Tire Service to Provide Customers with Flexible and Convenient Access to Top-Quality Tires

PLANO, Texas, June 6, 2023 /PRNewswire/ -- Acima Leasing, a leading provider of lease-to-own ("LTO") solutions for merchants and consumers and the virtual financial solutions platform of Upbound Group, Inc. (NASDAQ: UPBD), announces a multi-year agreement renewal with Big Brand Tire & Service. Acima will serve as the exclusive LTO provider for Big Brand Tire & Service's 200+ locations in Arizona, California, Colorado and Nevada. Big Brand Tire & Service is one of the largest tire and auto service operators in the nation.

"We are thrilled to renew our exclusive partnership with Big Brand Tire & Service and continue to include this renowned brand in our growing portfolio of shopping options for our customers," said Tyler Montrone, Executive Vice President at Acima. "Acima's proprietary technology will provide consumers with less-than-perfect credit history with a more flexible way to obtain tires and wheels through lease-purchase transactions."

"Providing complete customer satisfaction and great value for our guests is at the core of our company mission," said Dan Hahn, CFO of Big Brand Tire & Service. "We're excited to continue our partnership with Acima because their technology and guest-focused values are aligned with our goal of delivering the highest level of satisfaction to our guests."

Acima opens the door for credit-challenged consumers to get the products they want and need through a lease-purchase transaction with flexible payments. Millions of consumers in the United States suffer from challenges obtaining traditional credit to meet their shopping needs, making lease-to-own an ideal option for both customers and retailers. Acima's highly responsive development team makes integration simple for retailers. Acima's focus on innovative technology empowers consumers to connect with Acima's network of retailers across the country.

Retailers that want to add lease-to-own solutions to their e-commerce or in-store checkout can learn more about Acima's offerings at: www.acima.com/partner.

About Upbound Group, Inc.

Upbound Group, Inc. (NASDAQ: UPBD) is an omnichannel platform company committed to elevating financial opportunity for all through innovative, inclusive, and technology-driven financial solutions that address the evolving needs and aspirations of consumers. The company's customer-facing operating units include industry-leading brands such as Rent-A-Center® and Acima® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,400 company-branded retail units across the United States, Mexico, and Puerto Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about the company, please visit our website www.upbound.com.

About Big Brand Tire & Service

Big Brand Tire & Service delivers high-quality tire sales and auto repair services with industry leading customer satisfaction. The company provides a comprehensive list of services, such as alignments, brakes, oil changes, suspension, and custom lifting or lowering of vehicles. Big Brand Tire & Service invests in the lives and futures of its hardworking, dedicated team members. For additional information about the company, please visit our website www.bigbrandtire.com.

Upbound Group, Inc. Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding the announced transaction with Big Brand Tire & Service and other statements that are not historical facts. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "maintain," "should," "anticipate," "believe," or "confident," or the negative thereof or variations thereon or similar terminology. Such forward-looking statements are based on particular assumptions that our management has made in light of its experience and its perception of expected future developments and other factors that it believes are appropriate under the circumstances, and are subject to various risks and uncertainties. Factors that could cause or contribute to the material and adverse differences between actual and anticipated results include, but are not limited to, future developments and results from our announced transaction with Big Brand Tire & Service, and other risks detailed from time to time in the reports filed by us with the SEC, including our most recently filed Annual Report on Form 10-K, as may be updated by reports on Form 10-Q or Form 8-K filed thereafter. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. Except as required by law, we are not obligated to and do not undertake to, publicly release any revisions to these forward-looking statements to reflect any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 

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SOURCE Upbound Group, Inc.

FAQ

What is Acima's partnership renewal with Big Brand Tire & Service about?

Acima Leasing has renewed their multi-year agreement with Big Brand Tire & Service to serve as the exclusive lease-to-own provider for their 200+ locations in Arizona, California, Colorado, and Nevada.

How does Acima's partnership benefit customers?

Acima's partnership with Big Brand Tire & Service provides customers with a more flexible way to obtain tires and wheels through lease-purchase transactions, especially for those with less-than-perfect credit history.

What does Acima's proprietary technology offer retailers?

Acima's proprietary technology makes integration simple for retailers, allowing them to add lease-to-own solutions to their e-commerce or in-store checkout.

What is the significance of this partnership for Acima?

This partnership renewal strengthens Acima's position as a leading provider of lease-to-own solutions in the tire and auto service industry, expanding their portfolio of shopping options for customers.