Berkshire acquires rental co.
By Furniture Today Staff -- Furniture Today, January 27, 2008
Fairfax, Va. — Berkshire Hathaway's Cort rent-to-rent company has acquired Roomservice Group, a furniture rental company in the United Kingdom.
In a press release, Cort said the acquisition is part of its expansion into the United Kingdom and the company's first international purchase. The two companies have had a long relationship. Roomservice is a member of Cort's global partner network and has been its preferred provider in the Britain for six years, doing business primarily in London and surrounding regions.
The new U.K. operations — Roomservice by Cort — will offer residential and commercial furniture rental and design solutions, including furniture rental services to multinational corporations, relocation service providers and others, the company said.
Jeff Pederson, president of Fairfax, Va.-based Cort, said the purchase "demonstrates our commitment to developing our global network of furniture solutions and relocation services." He said the new operation "will be ideally positioned to capitalize on a number of growth sectors, including increased interest in institutional ownership of residential property."
Roger Hollis, Roomservice's managing director, said the British company will benefit from the strong financial resources and global presence of Berkshire Hathaway.
Berkshire also owns U.S. furniture retailers, including Nebraska Furniture Mart, Star, R.C. Willey and Jordan's.
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Cort acquires British rent-to-rent company
Jan 15, 2008
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