VIRGINIA BEACH, Va., Dec. 17, 2019 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG), today announced it has entered into a definitive purchase agreement to acquire Revolution Financial, Inc., a provider of consumer loans and credit products. The transaction is currently expected to close in the first quarter of 2020 and is subject to customary closing conditions.

The acquisition of Revolution is intended to accelerate the introduction of additional financial products and services to Liberty Tax customers. Commenting on the transaction, Liberty Tax CEO, Brent Turner stated, “In addition to consumer loans, we are beginning to roll out further products and services in many of our Liberty locations. We believe that broadening our product offering with complimentary financial products will add significant value to our Liberty Tax customers and franchisees.”

About Franchise Group, Inc.

Franchise Group, Inc. (NASDAQ: FRG) is an operator of franchised and franchisable businesses that it grows using its operating expertise. Franchise Group owns and operates Liberty Tax Service, Buddy’s Home Furnishings, Sears Outlet and The Vitamin Shoppe. On a combined basis, Franchise Group operates over 4,300 locations located predominantly in the U.S. and Canada through company-run and franchising agreements.