Aaron’s Inc. announced Monday the sale of all of the assets of its Rimco tire operations to Rent-A-Wheel/Rent-A-Tire.
Rimco and Rent-A-Wheel/Rent-A-Tire stores sell and lease automobile tires, wheels and rims.
“Rimco was a small part of Aaron’s business, with annual revenues of approximately $20 million, and this divesture will enable us to further focus efforts on improving the financial performance of our Aaron’s and HomeSmart stores,” Aaron’s chairman, president and CEO Ronald W. Allen said.
Rimco had 32 company-operated and franchised stores in 11 states. Rent-A-Wheel/Rent-A-Tire, based in Los Angeles, will now have 123 stores in 15 states.