The Virginian Pilot, July 2nd, 1996
Byline: TOM SHEAN, STAFF WRITER
In its first acquisition of a major franchise in five years, the tax-preparation chain H&R Block Inc. has purchased 178 H&R Block offices in Virginia, including 58 in Hampton Roads.
The transaction with Bay Colony Ltd. was part of Block's strategy for boosting its sales and efficiency, said Brian Schell, director of corporate development at Kansas City, Mo.-based H&R Block.
The deal, which closed Friday, involved an exchange of $20 million of H&R Block stock, he said.
During the recent tax season, offices in the Bay Colony franchise prepared 152,000 tax re...
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