Rent Rite, Inc. announced today it has acquired Rarick’s Easy Pay Rental Purchase, a 15 store Indiana chain. The acquisition was finalized on June 19th.

With this acquisition, Rent Rite is now the 5th largest rental purchase chain in the country, operating 89 stores in 11 states according to Chief Financial Officer, Tom Mitchell.

Ed Stanko
President, CEO and Rent Rite co-founder
"We are very pleased with the acquisition of Rarick’s Easy Pay. The Mullins family ran a first-class operation. We now have a major presence in the Indiana market, our first non-Atlantic coast market, which positions Rent Rite to continue its rapid expansion into the rest of the eastern United States."

According to Rarick’s President, Terry Mullins, his father Bill, a TV repairman who purchased his employer’s Ft. Wayne TV store, started Rarick’s in the mid 1970s. Bill and his wife, Reba became rent-to-own (RTO) pioneers in the mid 1980s by starting a rental-purchase department when the industry was in its infancy. This flourished and by 1988, with Terry as director of operations, the Mullins family abandoned retail sales and grew from one to as many as 19 rental-purchase stores. Bill and Reba retired over six years ago leaving Terry, along with his brother Matt, to continue the business. They have now decided to pursue other business endeavors.

Rent Rite operates stores in Georgia, Florida, Maryland, Connecticut, Delaware, Massachusetts, Pennsylvania, Rhode Island, Virginia, and Indiana.