How it started
History
Founded in 2019 through the merger of Liberty Tax and Buddy's Home Furnishings, it originally operated under the name Liberty Tax. However, when it was renamed Franchise Group, the company retained Liberty Tax and Buddy's Home Furnishings as its subsidiaries.
One year after purchasing The Vitamin Shoppe and Sears Outlet, the company purchased American Freight for $450 million in cash in 2020. - then Sears Outlet merged into American Freight.
On November 5, 2020, Franchise Group announced that it would acquire Fort Smith, Arkansas-based regional furniture retailer FFO Home, which filed for Chapter 11 bankruptcy protection on the same day. The acquisition was completed on December 29.
In the year it sold Liberty Tax to NextPoint Financial for $249 million, Franchise Group made numerous acquisitions in 2021. Around that time, it purchased Pet Supplies Plus in a deal valued at $700 million, Sylvan Learning for $81 million, and Badcock Home Furniture for $580 million.
In August, a group of investors bought Franchise Group for US$2.6 billion. In November 2023, Kahn was identified by Bloomberg as one of two co-conspirators in a securities fraud case, following the guilty plea of John Hughes, co-founder of Prophecy Asset Management
From Wikipedia’s article on Franchise Group, shared under CC BY-SA 4.0.3