Welcome to our dedicated page for Franchise Group news (Ticker: FRG), a resource for investors and traders seeking the latest updates and insights on Franchise Group stock.
Franchise Group, Inc. (NASDAQ: FRG) operates a dynamic portfolio of consumer-focused franchises including Liberty Tax and The Vitamin Shoppe. This news hub provides investors and business professionals with essential updates on FRG's strategic initiatives across retail, tax services, and wellness sectors.
Access real-time updates on earnings reports, acquisition strategies, and brand expansions like PHOCUS beverages. Our curated news collection simplifies tracking FRG's operational milestones, including partnerships with industry leaders and franchise network developments.
Key coverage areas include financial performance, subsidiary updates, product launches, and leadership changes. Discover how FRG leverages brands like Gorilla Mind and BodyTech® to maintain market leadership in specialty retail and franchising.
Bookmark this page for streamlined access to verified FRG announcements. Check regularly for insights into the company's growth through strategic franchising and consumer trend adaptation.
Franchise Group Completes $1.3 Billion Refinancing
Franchise Group, Inc. (NASDAQ: FRG) has successfully completed its acquisition of Pet Supplies Plus (PSP) for $700 million, funded by $1.3 billion in new debt financing. This financing also refinances existing loans, enhancing Franchise Group's capital structure. CEO Brian Kahn expressed optimism about PSP’s unit economics and growth potential, which are expected to strengthen Franchise Group's market position and diversification strategy.
Franchise Group reported its Q4 and full-year 2020 results, revealing a total revenue of $496.3 million for Q4 and $2.15 billion for the full year. The company faced a net loss of $4.2 million or $0.12 per share in Q4, while net income for the year was $25.1 million or $0.70 per share. Adjusted EBITDA stood at $28.8 million for Q4 and $227.6 million for the year. For 2021, Franchise Group anticipates revenue between $3.0 billion and $3.1 billion and net income of at least $40 million or $1.00 per share.
Franchise Group (NASDAQ: FRG) will announce its fourth quarter and full year 2020 financial results on March 10, 2021, followed by a conference call at 4:30 PM ET to discuss the results and provide a 2021 outlook. The call can be accessed via webcast and telephone, with details available on their website. Additionally, Franchise Group will participate in the UBS and D.A. Davidson virtual conferences on March 9 and 11, 2021, respectively. The company operates over 4,000 locations across various brands, aiming to generate strong cash flow for shareholders.
Franchise Group, Inc. (NASDAQ: FRG) has announced a quarterly dividend of $0.375 per share, payable on or about April 15, 2021, to shareholders on record by the close of business on March 31, 2021. The company operates over 4,100 locations through various franchises, including Liberty Tax Service and The Vitamin Shoppe, aiming to generate strong cash flow for shareholders. This dividend marks a commitment to enhancing shareholder value amidst ongoing business operations.
Franchise Group, Inc. (NASDAQ: FRG) has declared a quarterly dividend of $0.46875 per share for Series A Cumulative Perpetual Preferred stockholders. The dividend is set to be paid on or about April 15, 2021, to those who hold the stock as of the close of business on March 31, 2021. Franchise Group operates over 4,100 locations across various brands, including Liberty Tax Service and The Vitamin Shoppe, focusing on strong cash flow generation.
Franchise Group has entered into a definitive agreement for its Liberty Tax business to merge with NextPoint Acquisition Corp., part of a diversified financial services platform. The deal will yield over $240 million, comprising $182 million in cash and $61 million in stock. The transaction aligns with Franchise Group's strategy to transition Liberty from a seasonal tax service to a year-round financial products provider. Expected completion is in the second quarter of 2021, subject to regulatory approvals.
The Vitamin Shoppe has announced a partnership with Kim Lien Group to launch and operate stores in Vietnam. The first outlet opened this month in Hanoi, measuring 1,500 square feet, showcasing various nutritional products from The Vitamin Shoppe's proprietary brands. A second Hanoi store is set to open soon, with plans for wholesale distribution targeting pharmacies, gyms, and spas. This marks The Vitamin Shoppe's first country license agreement in Asia, expanding its international presence.
Franchise Group (NASDAQ: FRG) has announced a definitive agreement to acquire Pet Supplies Plus (PSP) in an all-cash transaction valued at approximately $700 million. The acquisition is projected to boost Franchise Group's earnings and revenue, with anticipated systemwide annual revenue exceeding $3.6 billion. PSP, boasting over 500 locations, contributes a diversified revenue model and strong unit economics. The deal is expected to close in March 2021, providing Franchise Group with an estimated $100 million in net present value tax benefits.
Franchise Group announced the closing of its underwritten offering of 7.50% Series A Cumulative Perpetual Preferred Stock at $25.20 per share. The underwriters partially exercised their option, purchasing an additional 314,934 shares, raising approximately $7.7 million. Total shares sold in this offering reached 3,291,125, yielding about $79.5 million in net proceeds. The funds are aimed at general corporate purposes, including future acquisitions. Dividends are set at $1.875 per year, payable quarterly starting April 15, 2021.
Franchise Group (NASDAQ: FRG) announced a public offering of 2,976,191 shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, priced at $25.20 per share, with gross proceeds estimated at $75 million. The offering closes around January 15, 2021, and includes a 30-day option for underwriters to purchase an additional 446,428 shares. Proceeds will support general corporate purposes, including potential acquisitions. The offering is a reopening of stock initially issued on September 18, 2020, and shares will be consolidated with existing stock.
