Additional Information and Where to Find It. The acquisition of Sears Outlet is an important step forward in the evolution of Liberty Tax's strategic objectives, as it follows the July 2019 acquisition of Buddy's Home Furnishings and the proposed acquisition of The Vitamin Shoppe, Inc. ("Vitamin Shoppe") announced earlier in August. Investors are urged to carefully read the information statement regarding the merger, the transactions contemplated to be entered into in connection therewith (including the proposed Sale) and any other relevant documents in their entirety when they become available because they will contain important information about the merger and the transactions contemplated to be entered into in connection therewith (including the proposed Sale). Liberty Tax’s acquisition of the 41 Buddy’s Home Furnishings stores from A-Team Leasing was financed, in part, through approximately $23 million of additional borrowings under the existing secured credit facility of Buddy’s. This unique portfolio of Sears Outlet retail stores and distribution capabilities will add complementary products and sales channels and enable Liberty Tax to offer high quality home goods to consumers across the nation, while also offering unique value propositions. The information in the preliminary information statement is not complete and may be changed. More than 90% of its Hometown Stores are operated by independent local dealers or franchisees. These transactions are intended as the first step in … In connection with the merger, Sears Hometown filed with the SEC, on July 26, 2019, a preliminary information statement for its stockholders containing the information with respect to the merger and the transactions contemplated to be entered into in connection therewith required in Schedule 14C promulgated under the Securities Exchange Act of 1934, as amended, and describing, among other things, the merger and the transactions contemplated to be entered into in connection therewith. 1 Guggenheim Investments assets under management figure is as of 6.30.2019 and includes $11.2 billion of leverage. The Vitamin Shoppe is being acquired by Virginia Beach, Virginia-based Liberty Tax Inc. for $208 million, the Secaucus-based nutritional products announced Thursday. Liberty Tax is focused on the evaluation and acquisition of franchise-oriented or complementary businesses. Investors are urged to carefully read the information statement regarding the merger, the transactions contemplated to be entered into in connection therewith (including the proposed Sale) and any other relevant documents in their entirety when they become available because they will contain important information about the merger and the transactions contemplated to be entered into in connection therewith (including the proposed Sale). Password. In connection with its sale of these Buddy’s Home Furnishings stores to Liberty Tax, A-Team Leasing intends to become a franchisee of five Sears Outlet locations, with this franchising transaction expected to become effective concurrently with the Sale. Liberty Tax is focused on the evaluation and acquisition of franchise-oriented or complementary businesses. Aug 08, 2019. Vintage Capital Management LLC. Forward-looking statements may include, but are not limited to, statements relating to the proposed transaction between Sears Hometown and Liberty Tax. In addition, Buddy's Newco, LLC ("Buddy's"), a wholly owned subsidiary of Liberty Tax, has acquired 41 Buddy's Home Furnishings stores from A-Team Leasing, an existing Buddy's Home Furnishings franchisee. Liberty Tax, the parent company of Liberty Tax Service and Buddy’s Home Furnishings, and Vitamin Shoppe announced that they have entered into a definitive agreement under which Liberty Tax will acquire The Vitamin Shoppe in an all cash transaction valued at approximately $208 million. Forward-looking statements may include, but are not limited to, statements relating to the proposed transaction between Sears Hometown and Liberty Tax. This is a continuation of Liberty Tax’s strategy of identifying and acquiring franchised or franchisable businesses while also building scale at attractive acquisition valuations. Liberty Tax is focused on the evaluation and acquisition of franchise-oriented or complementary businesses. This is a continuation of Liberty Tax's strategy of identifying and acquiring franchised or franchisable businesses while also building scale at attractive acquisition valuations. These documents may also be obtained free of charge from Liberty Expedia by requesting them by mail at Liberty Expedia Holdings, Inc., 12300 Liberty … Forward-looking statements speak only as of the date when made and neither Sears Hometown nor Liberty Tax undertakes any obligation to update these statements in light of subsequent events or developments. Additional Information and Where to Find It. These statements are subject to various significant risks and uncertainties, many of which are outside of the control of Sears Hometown and Liberty Tax, including, among others, the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the business and the stock price of Sears Hometown and/or Liberty Tax; risks related to the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase agreement or the failure to satisfy any of the conditions to the completion of the proposed transaction; the calculation of Net Proceeds under the Merger Agreement and any adjustment to the merger consideration under the Merger Agreement as a consequence thereof; the effect of the announcement or pendency of the proposed transaction on the ability of Sears Hometown or Liberty Tax to retain and hire key personnel and maintain relationships with its customers, suppliers, partners and others with whom they do business, or on their respective operating results and business generally; risks associated with the diversion of management's attention from ongoing business operations due to the proposed transaction; legal proceedings related to the proposed transaction; uncertainties as to Liberty Tax's ability to obtain financing in order to consummate the proposed transaction; costs, charges or expenses resulting from the proposed transaction; the franchising of the Sears Outlet business, including to A-Team Leasing; and the ability of Liberty Tax to implement and execute on its franchise-centric business model. BirdChief Financial Officer (847) 286-8650 ebird1@shos.com. Concurrently with its entry into the Purchase Agreement, Sears Hometown entered into a letter agreement with Transform and a wholly owned subsidiary of Transform which, among other things, provides that, subject to the satisfaction of certain conditions, the merger will close substantially concurrently with the closing of the Sale. In the U.S. and Canada, last year, Liberty Tax prepared over two million individual income tax returns in more than 4,000 offices and online. Liberty Tax, Inc. (OTC PINK: TAXA) is the indirect parent company of Liberty Tax Service and Buddy’s Home Furnishings and expects to acquire Vitamin Shoppe in the third or fourth quarter of 2019. ESL Investments, Inc. and its affiliates, the majority owners of Transform, presently hold approximately 55.2% of the outstanding shares of Sears Hometown. Liberty Tax also supports local … For Liberty Tax, Inc. Investors:  Michael S. Piper Chief Financial Officer Liberty Tax Service (757) 493-8855 investorrelations@libtax.com For Sears Hometown and Outlet Stores, Inc. Public Relations Mandi Gualtieri (847) 945-1300agualtieri@fishmanpr.com, For Sears Hometown and Outlet Stores, Inc. Investors:  E.J. This was one of three possible actions to ensure federal approval of AT&T's $54 billion acquisition of MediaOne Group—the others were selling its 25.5% share of Time Warner Entertainment and dropping 11.8 million cable customers. Liberty Tax soon to be renamed the Franchise Group has inked a definitive agreement to acquire the Vitamin Shoppe in an all cash transaction. With more than 60 specialists, we have helped facilitate over 500 M&A deals a year on average—successfully insuring thousands of transactions since our inception. Liberty Tax also owns Buddy's Home Furnishings, a specialty retailer engaged in the business of leasing and selling consumer electronics, residential furniture, appliances and household accessories. Liberty Tax, Inc. (Virginia) the parent company of Liberty Tax Service and Buddy’s Home Furnishings, and New Jersey-based Vitamin Shoppe, Inc., an omni-channel, specialty retailer of nutritional products, announced that they have entered into a definitive agreement under which Liberty Tax will acquire The Vitamin Shoppe in an all cash transaction valued at approximately $208 million. Search / Go. Upon the closing of the Sale, Liberty Tax's store portfolio will include several hundred retail locations with a combination of company operated and franchisee operated stores. Sign-in using your Liberty Tax Personal account to access systems secured by this service. Form SC 13D/A (Filed by) SEC.report. Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor to many charitable causes. Liberty Global Transaction Solutions (GTS) is one of the largest global mergers and acquisitions (M&A) insurance teams in the industry. The Sale and the merger between Sears Hometown and Transform are each expected to close in October 2019, subject to the satisfaction of specified conditions. Shares of nutritional products and supplements retailer Vitamin Shoppe surge after announcing it is being acquired by Liberty Tax in an all-cash deal valued at about $208 million. Franchise Group, Inc. (OTC PINK: FRGA) is the indirect parent company of Liberty Tax Service and Buddy’s Home Furnishings. The acquisition of Sears Outlet is an important step forward in the evolution of Liberty Tax's strategic objectives, as it follows the July 2019 acquisition of Buddy's Home Furnishings and the proposed acquisition of The Vitamin Shoppe, Inc. ("Vitamin Shoppe") announced earlier in August. Login below to access Liberty Tax Secured Systems. VIRGINIA BEACH, Va., Sept. 19, 2019 (GLOBE NEWSWIRE) -- Liberty Tax, Inc. today announced that its previously disclosed name change to Franchise Group, Inc. (the “Company”) has become effective. The Vitamin Shoppe transaction represents the continued evolution of the business model of Liberty Tax, and follows the recent acquisition of Buddy’s Home Furnishings, which was completed in July 2019. Franchise Group, Inc. Form SC 13D/A (Subject) Published: 2020-03-27 16:49:37 Submitted: 2020-03-27 . Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support It's an exciting time for Liberty Tax and its shareholders as we begin to recognize the strength in our future-facing franchise business model. VIRGINIA BEACH, Va. and HOFFMAN ESTATES, Ill., Aug. 27, 2019 (GLOBE NEWSWIRE) -- Liberty Tax, Inc. (“Liberty Tax”) (OTC Pink: TAXA), the parent company of Liberty Tax Service and Buddy’s Home Furnishings, and Sears Hometown and Outlet Stores, Inc. (“Sears Hometown”) (NASDAQ: SHOS) today announced that they have entered into a definitive purchase agreement (the “Purchase Agreement”) whereby Liberty Tax will acquire Sears Hometown’s Outlet business as well as its Buddy’s Home Furnishings Stores (collectively, the “Sears Outlet business”) in an all cash transaction valued at up to approximately $132.9 million. The Vitamin Shoppe is being acquired by Virginia Beach, Virginia-based Liberty Tax Inc. for $208 million, the Secaucus-based nutritional products announced Thursday. In addition, Buddy’s Newco, LLC (“Buddy’s”), a wholly owned subsidiary of Liberty Tax, has acquired 41 Buddy’s Home Furnishings stores from A-Team Leasing, an existing Buddy’s Home Furnishings franchisee. ", Will Powell, Chief Executive Officer and President of Sears Hometown, said "The Sears Outlet business is a profitable business with a unique business strategy that, as part of the dynamic Liberty Tax group of companies, is expected to generate future growth.". Liberty Tax, based in Virginia Beach, Virginia, announced Tuesday that it has entered into a definitive deal to purchase the Sears Outlet business, along with Buddy’s Home Furnishings Stores, from Sears Hometown and Outlet Stores Inc. in an all-cash transaction valued at up to $132.9 million. Under the direction of its board of directors (the 'Board'), Liberty Tax … Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor to many charitable causes. Here are highlights of the deal. Liberty Tax, Inc. Form SC 13D/A. Sears Hometown and Liberty Tax believe that all forward-looking statements are based on reasonable assumptions when made; however, Sears Hometown and Liberty Tax caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes with certainty and that, accordingly, one should not place undue reliance on these statements. As a result of the Sale, which is estimated to result in Net Proceeds (as defined in the Merger Agreement) of approximately $121 million, the merger consideration payable by Transform in the merger transaction for the outstanding shares of Sears Hometown not owned by ESL Investments, Inc. and its affiliates is estimated to be approximately $3.25 per share in cash, an increase of approximately $1.00, or approximately 44.4%, from the previously announced base merger consideration of $2.25 per share. Under terms of … © 2020 GlobeNewswire, Inc. All Rights Reserved. When you give Liberty Tax® the honor of preparing your taxes, you’re choosing to work with dedicated tax professionals who’ll help get you every deduction you’re entitled to. (RTTNews) - Liberty Tax, Inc. (TAXA.PK) has agreed to acquire Sears Hometown's (SHOS) Outlet business, and its Buddy's Home Furnishings Stores for approximately $132.9 … VIRGINIA BEACH, Va. and HOFFMAN ESTATES, Ill., Aug. 27, 2019 /PRNewswire/ -- Liberty Tax, Inc. ("Liberty Tax") (OTC Pink: TAXA), the parent company of Liberty Tax Service and Buddy's Home Furnishings, and Sears Hometown and Outlet Stores, Inc. ("Sears Hometown") (NASDAQ: SHOS) today announced that they have entered into a definitive purchase agreement (the "Purchase Agreement") whereby Liberty Tax will acquire Sears Hometown's Outlet business as well as its Buddy's Home Furnishings Stores (collectively, the "Sears Outlet business") in an all cash transaction valued at up to approximately $132.9 million. Companies; Documents; Forms; Alerts; Stock Ticker Lookup. Liberty Tax’s acquisition of Buddy’s was consummated concurrently with the execution of the definitive documentation. When completed, the definitive information statement will be mailed to Sears Hometown’s stockholders. Companies; Documents; Forms; Alerts; Stock Ticker Lookup. On July 10, 2019, Liberty Tax completed the acquisition of Buddy’s Newco, LLC, the parent company of Buddy's Home Furnishings, a chain of 293 company-owned and franchisee rent-to-own stores with locations in the United States and Guam, 90% of which are operated by franchisees. Form SC 13D/A (Filed by) SEC.report. Companies; Documents; Forms; Alerts; Stock Ticker Lookup. More than 90% of its Hometown Stores are operated by independent local dealers or franchisees. In connection with the execution of the purchase agreement, Liberty Tax entered into a debt commitment letter with Guggenheim Credit Services, LLC, as administrative agent and lead arranger, and clients managed by Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, and an equity commitment letter with an affiliate of Vintage, each of which is subject to customary conditions. In the U.S. and Canada, last year, Liberty Tax prepared approximately two million individual income tax returns in more than 3,100 offices and online. SECAUCUS, NJ—Locally-based retailer The Vitamin Shoppe is to be acquired by Liberty Tax Inc. of Virginia Beach, VA in a deal valued at approximately … VIRGINIA BEACH, Va., Nov. 28, 2018 (GLOBE NEWSWIRE) -- Liberty Tax, Inc. (OTC PINK: TAXA) (“Liberty Tax” or the “Company”), the parent company of Liberty Tax Service, today announced that it has received an unsolicited and non-binding proposal from an unaffiliated private equity fund to acquire all of the outstanding shares of Liberty Tax for $13.00 per share. User Account. Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor to many charitable causes. Search / Go. The US omnichannel, speciality retailer of nutritional products will be sold in an all-cash transaction valued at … Shearman & Sterling LLP acted as legal counsel to the Special Committee of the Sears Hometown Board of Directors and PJ Solomon acted as its financial advisor. Liberty is the parent company of Liberty Tax Service and lease-to-own Buddy’s Home Furnishings and is in the process of acquiring The Vitamin Shoppe. Andrew Laurence, Chairman of Liberty Tax’s Board of Directors, said, “We are excited about the acquisition of Sears Outlet and its unique model that offers its customers in-store and online access to outlet-value products across a broad assortment of merchandise categories, while serving as a valuable supply chain partner for its vendors. Liberty Tax, Inc. Form SC 13D/A. Its Outlet stores are designed to provide its customers with in-store and online access to new, one-of-a kind, out-of-carton, discontinued, reconditioned, overstocked, and scratched and dented products across a broad assortment of merchandise categories, including home appliances, lawn and garden equipment, apparel, mattresses, sporting goods and tools at prices that are significantly lower than list prices. Liberty Tax Inc. on Thursday announced it will acquire the Secaucus-based Vitamin Shoppe Inc. for approximately $208 million in an all-cash transaction. Guggenheim’s 300+ investment professionals perform rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. SOURCE Sears Hometown and Outlet Stores, Inc. Cision Distribution 888-776-0942 Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor to many charitable causes. VIRGINIA BEACH, Va. — Vintage Capital Management has sold Buddy’s Home Furnishings to the publicly held Liberty Tax, which intends to transform from a … On a combined basis, Franchise Group currently operates over 4,400 locations predominantly located in the U.S. and Canada that are either Company-run or operated pursuant to franchising agreements. By Briana Adhikusuma. Liberty Tax intends to finance the transaction through a combination of new debt, Liberty Tax’s balance sheet cash and/or an equity contribution from an affiliate of Vintage Capital Management, LLC (“Vintage”). Liberty Tax, Inc. Form SC 13D/A. In the U.S. and Canada, last year, Liberty Tax prepared approximately two million individual income tax returns in more than 3,100 offices and online. Sears Hometown and Outlet Stores will be acquired by Liberty Tax for approximately $132.9 million, adding to the company’s growing retail portfolio. Guggenheim focuses on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, consultants, wealth managers, and high-net-worth investors. from 8 AM - 9 PM ET, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Guggenheim Investments (“Guggenheim”) is the global asset management and investment advisory division of Guggenheim Partners, with more than $209 billion1 in total assets under management across fixed income, equity, and alternative strategies. Liberty Tax Inc. on Thursday announced it will acquire the Secaucus-based Vitamin Shoppe Inc. for approximately $208 million in an all-cash transaction. This communication is being made in respect of the proposed Sale and the separately proposed merger involving Sears Hometown and Transform. When completed, the definitive information statement will be mailed to Sears Hometown's stockholders. Liberty Tax and Buddy’s will operate as stand-alone businesses with separate management teams. Liberty Tax, Inc. To Acquire Outlet Business From Sears Hometown And Outlet Stores, Inc. PR Newswire VIRGINIA BEACH, Va. and HOFFMAN... 27/11/2019 00:11:37 Cookie Policy +44 (0) 203 8794 460 Free Membership Login Liberty Tax, Inc. (OTC PINK: TAXA) is the indirect parent company of Liberty Tax Service and Buddy’s Home Furnishings and expects to acquire Vitamin Shoppe in the third or fourth quarter of 2019. Liberty Tax also supports local … About Sears Hometown and Outlet Stores, Inc. Sears Hometown and Outlet Stores, Inc. is a national retailer primarily focused on selling home appliances, hardware, tools and lawn and garden equipment. Staff writer | Nov 28, 2018 at 4:51 PM . Sears Hometown and Liberty Tax believe that all forward-looking statements are based on reasonable assumptions when made; however, Sears Hometown and Liberty Tax caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes with certainty and that, accordingly, one should not place undue reliance on these statements. Actual results may differ materially from anticipated results or outcomes discussed in any forward-looking statement. Liberty is the parent company of Liberty Tax Service and lease-to-own Buddy’s Home Furnishings and is in the process of acquiring The Vitamin Shoppe. The Company previously announced the proposed acquisition of … Liberty Tax is focused on the evaluation and acquisition of franchise-oriented or complementary businesses. Liberty Tax was sued by the State of California in 2009 for promising its customers speedy tax refunds while failing to disclose that they were actually taking out high-interest bank loans on their behalf subject to finance charges and debt collections, a state appeals court has ruled in upholding a $1.3 million judgment against the tax preparation firm. This unique portfolio of Sears Outlet retail stores and distribution capabilities will add complementary products and sales channels and enable Liberty Tax to offer high quality home goods to consumers across the nation, while also offering unique value propositions. Form SC 13D/A (Filed by) SEC.report. 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