U.S.-based moving equipment and storage rental company U-Haul International Inc. plans to acquire 13 Kmart and Sears stores.
Under the terms of the deal, U-Haul will pay $62 million for the stores to retailing company Sear Holdings.
The company will change the stores into self-storage and moving facilities as part of its strategy.
In 2006, U-Haul International Inc generated $4.02 billion in revenue.