Prog Holdings closes acquisition of Purchasing Power for $420M in cash

PROG Holdings (PRG), the fintech holding company for Progressive Leasing, Four Technologies, and Build, announced that it has completed its previously announced acquisition of Purchasing Power, a voluntary employee benefit program that enables workers to purchase brand-name products and services through automatic payroll deductions or allotments. We are excited to officially welcome Purchasing Power to the PROG Holdings family,” said Steve Michaels, President and CEO. With the transaction complete, Purchasing Power becomes a wholly owned subsidiary of PROG Holdings. Under the terms of the transaction announced on December 1, 2025, PROG Holdings acquired Purchasing Power for $420M in cash, funded through a combination of cash on hand and debt financing.