Women and Gentelmen in Pawnland!
The united states purchase battle continues with still another major acquistion by EZ Corp out of Austin Texas. Valuations are running 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 Stores
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SUPPLY EZCORP, Inc.
AUSTIN, Texas, might 17, 2011 /PRNewswire/ вЂ” EZCORP, Inc. (Nasdaq: EZPW) announced today so it has finished the formerly established purchase of fifteen Mister Money pawn shops positioned in Iowa, Wisconsin, and Illinois. The purchase cost had been compensated in money.
вЂњWith the addition among these shops, we continue steadily to solidify and expand our existence in brand new and underserved areas,вЂќ said Eric Fosse, President associated with the companyвЂ™s North American Operations. вЂњEleven associated with obtained stores have been in Iowa, which can be an entirely brand new state we see as attractive for further expansion for us and one. Three shops have been in Wisconsin and certainly will complement our 35 EZMONEY loan shops for the reason that state. The staying shop is in a location of Illinois for which we didn’t formerly have a presence.вЂќ
вЂњThis purchase brings how many states for which we run pawn stores to 16, in comparison to 12 at the moment this past year,вЂќ proceeded Mr. Fosse. вЂњStrengthening our U.S. pawn existence, both through opportunistic purchases and store that is new, stays an essential part of our development strategy.вЂќ
EZCORP is a provider that is leading of consumer economic solutions. It offers collateralized non-recourse loans, popularly known as pawn loans, and a number of short-term customer loans, including pay day loans, installment loans and automobile name loans, or fee-based credit solutions to clients searching for loans. At its pawn shops, the business additionally offers product, primarily collateral forfeited from the pawn lending operations.
EZCORP runs a lot more than 1,000 shops, including over 500 pawn shops within the U.S. and Mexico and more than 500 consumer that is short-term stores into the U.S. and Canada. The business has also 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 countries that offer monetary services and offer pre-owned product, and Albemarle & Bond Holdings PLC (ABM.L), among the U.K.вЂ™s biggest pawnbroking companies with more than 140 shops.
Unique Note Regarding Forward-Looking Statements
This statement contains particular forward-looking statements concerning the CompanyвЂ™s expected performance in future durations, like the impact that is anticipated of newly obtained shops. These statements derive from the CompanyвЂ™s expectations that are current. Real results for future durations may differ materially from those expressed or suggested by these forward-looking statements because of a number of uncertainties as well as other facets, including changing market conditions within the general economy together with industry, consumer need for the CompanyвЂ™s solutions and product and alterations in the regulatory environment. For a discussion of the along with other facets impacting the CompanyвЂ™s company and prospects, begin to see the CompanyвЂ™s annual, quarterly along with other reports filed utilizing the Securities and Exchange Commission.
EZCORP Investor Relations (512) 314-2220
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