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The usa acquisition competition continues with just one more major acquistion by EZ Corp away from Austin Texas. Valuations are operating high and suitable prospects are operating scarce. Interesting read We thought i might share with your subscriber list, enjoy!
EZCORP Completes Acquisition of Mister Cash Pawn Shops
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PROVIDER EZCORP, Inc.
AUSTIN, Texas, might 17, 2011 /PRNewswire/ — EZCORP, Inc. (Nasdaq: EZPW) announced today it has finished the formerly announced purchase of fifteen Mister cash pawn shops positioned in Iowa, Wisconsin, and Illinois. The acquisition price ended up being compensated in money.
“With the addition among these shops, we continue steadily to solidify and expand our existence in brand new and underserved areas,” said Eric Fosse, President regarding the company’s North American Operations. “Eleven regarding the obtained shops have been in Iowa, which can be a totally brand new state for all of us and something we come across as appealing for further expansion. Three shops have been in Wisconsin and can complement our 35 EZMONEY loan shops for the reason that state. The store that is remaining in a location of Illinois for which we failed to formerly have a presence.”
“This purchase brings how many states by which we run pawn shops to 16, in comparison to 12 at the moment year that is last” proceeded Mr. Fosse. “Strengthening our U.S. pawn presence, both through opportunistic acquisitions and store that is new, stays an essential element of our development strategy.”
About EZCORP
EZCORP is a provider that is leading of customer monetary solutions. It offers collateralized non-recourse loans, often called pawn loans, and a number of short-term customer loans, including payday advances, installment loans and automobile name loans, or credit that is fee-based to clients looking for loans. At its pawn shops, the business additionally offers product, primarily collateral forfeited from the pawn lending operations.
EZCORP runs significantly more than 1,000 shops, including over 500 pawn stores into the U.S. and Mexico and more than 500 short-term customer loan shops within the U.S. and Canada. The business comes with significant investments in money Converters Overseas Limited (CCV.L and CCV.ASX), which franchises and operates a network that is worldwide of 600 shops in 21 nations offering monetary services and sell pre-owned product, and Albemarle & Bond Holdings PLC (ABM.L), one of several U.K.’s biggest pawnbroking companies with more than 140 shops.
Special Note Regarding Forward-Looking payday loans Rhode Island Statements
This statement contains specific forward-looking statements about the Company’s expected performance in the future durations, such as the impact that is anticipated of newly obtained shops. These statements are derived from the Company’s expectations that are current. Real results for future periods may vary materially from those expressed or suggested by these forward-looking statements as a result of a number of uncertainties along with other facets, including changing market conditions when you look at the general economy therefore the industry, customer need for the Company’s solutions and product and alterations in the environment that is regulatory. For a discussion of the as well as other facets impacting the Company’s company and prospects, start to see the Company’s yearly, quarterly along with other reports filed utilizing the Securities and Exchange Commission.
EZCORP Investor Relations (512) 314-2220
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