Financial Advisor
PROG Holdings, Inc.
M&A Advisory
Has Acquired
A Portfolio Company Of
Transaction Details
On December 1, 2025, PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Four Technologies, and Build, announced it has reached an agreement to acquire Purchasing Power, a leading voluntary employee benefit program provider allowing employees to purchase brand-name products and services through either automatic payroll deductions or allotments.
Under the terms of the transaction, PROG Holdings will acquire Purchasing Power for $420 million in cash, funded through a combination of cash on hand and debt financing. In addition, at the closing of the transaction, Purchasing Power will have approximately $330 million of non-recourse funding debt under its securitization and warehouse facilities that will remain in place.
About the company
PROG Holdings, Inc.
PROG Holdings, Inc. (NYSE:PRG) is a fintech holding company headquartered in Salt Lake City, UT, that provides transparent and competitive payment options and inclusive consumer financial products. The Company owns Progressive Leasing, a leading provider of e-commerce, app-based, and in-store point-of-sale lease-to-own solutions, Four Technologies, provider of Buy Now, Pay Later payment options through its platform Four, and Build, provider of personal credit building products. More information on PROG Holdings' companies can be found at https://www.progholdings.com.
Purchasing Power, LLC
Purchasing Power, LLC, is an Atlanta-based voluntary benefit company providing financial wellness solutions to employers, including a leading employee purchase program for consumer products and services using payroll deduction. Helping employees achieve financial flexibility, Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies.
Sources: Press Release.
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