|
|
Article: Jackson Hewitt sold to HFS for $480m.
- Article from:
- Accounting Today
- Article date:
- December 15, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Parsippany, N.J. -- Tax preparation giant Jackson Hewitt has cut a deal with franchising giant HFS Inc. to be acquired for $480 million.
Jackson Hewitt says the deal, unveiled in November, infuses the company with needed cash to help grow the business, taps into HFS's franchise expertise, and paves the way for cross-marketing opportunities with HFS brands such as Century 21, Avis Rent-A-Car and financial products like mutual funds and home mortgages.
HFS, meanwhile, will broaden its holdings in an effort to become a one-stop shop for baby boomers seeking financial help, travel and real estate services. HFS, helmed by chairman and chief executive Henry ...