United States
Securities And Exchange Commission
Washington, D.c. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
September 16, 1998 (September 10, 1998)
Date of Report (Date of earliest event reported)
Rent-Way, Inc.
(Exact name of registrant as specified in its charter)
Pennsylvania 000-22026 25-1407782
(State or other jurisdiction (Commission File Number) (IRS Employer
of corporation) Identification No.)
One RentWay Place, Erie, Pennsylvania 16505
(Address of principal executive offices) Zip Code
Registrant's telephone number, including area code: (814) 455-5378
<PAGE>
RENT-WAY, INC.
8-K, Continued
Item 5. Other Events
The registrant issued the following press release on September 10, 1998:
ERIE, PA. -- Rent-Way, Inc. today announced that it has completed the
acquisition of the assets of Cari Rentals, a 23-store rental-purchase chain.
Cari Rentals, with annualized revenues of approximately $8 million, operates
stores under the Budget Rentals and Cari Rentals names in Iowa, Missouri,
Nebraska and South Dakota. The purchase price was approximately $7 million.
William Morgenstern, President and Chief Executive Officer of Rent-Way, said,
"The Cari Rentals and Budget Rentals stores are an exciting acquisition for us
because they represent entirely new and undeveloped territory for Rent-Way. Our
goal is to integrate the stores into our existing operations before the
consummation of our previously announced merger with Home Choice."
Rent-Way, Inc. operates 407 rental-purchase stores located in 25 states
primarily in the Southeast, Midwest and Northeast. Rent-Way rents brand name
consumer merchandise such as home entertainment equipment, furniture and major
appliances on a week-to-week or month-to-month basis under full service
rental-purchase agreements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Rent-Way, Inc.
(Registrant)
Date September 16, 1998
/s/ Jeffrey A. Conway
(Signature)
Jeffrey A. Conway
Chief Financial Officer
