The usa purchase battle continues with still another acquistion that is major EZ Corp away from Austin Texas. Valuations are operating high and candidates that are suitable operating scarce. Interesting read We ended up being thinking i might share with this customer list, enjoy!
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PROVIDER EZCORP, Inc.
AUSTIN, Texas, May 17, 2011 /PRNewswire/ вЂ” EZCORP, Inc. (Nasdaq: EZPW) announced that it has completed the previously announced acquisition of fifteen Mister Money pawn stores located in Iowa, Wisconsin, and Illinois today. The purchase price had been compensated in cash.
вЂњWith the addition of those shops, we continue steadily to solidify and expand our existence in brand new and areas that are underservedвЂќ said Eric Fosse, President of this companyвЂ™s North American Operations. вЂњEleven of this obtained shops come in Iowa, which can be a completely 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 place of Illinois for which we would not 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 just last year,вЂќ continued Mr. Fosse. вЂњStrengthening our U.S. http://www.cheapesttitleloans.com/payday-loans-ga pawn presence, both through opportunistic purchases and brand new shop expansion, continues to be a significant element of our growth strategy.вЂќ
EZCORP is a provider that is leading of customer economic solutions. It offers collateralized non-recourse loans, popularly known as pawn loans, and many different short-term customer loans, including pay day loans, installment loans and car name loans, or fee-based credit solutions to clients searching for loans. The company also sells merchandise, primarily collateral forfeited from its pawn lending operations at its pawn stores.
EZCORP runs significantly more than 1,000 shops, including over 500 pawn shops when you look at the U.S. and Mexico and over 500 consumer that is short-term shops when you look at 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 worldwide community of over 600 shops in 21 nations that offer monetary services and offer pre-owned product, and Albemarle & Bond Holdings PLC (ABM.L), one of several U.K.вЂ™s biggest pawnbroking organizations with more than 140 shops.
Special Note Regarding Forward-Looking Statements
This statement contains particular forward-looking statements about the CompanyвЂ™s expected performance in the future periods, like the expected effect associated with newly obtained shops. These statements derive from the CompanyвЂ™s present objectives. Real results for future periods may vary 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 into the general economy while the industry, customer interest in the CompanyвЂ™s solutions and product and alterations in the regulatory environment. For a discussion of those as well as other factors impacting the CompanyвЂ™s company and prospects, look at CompanyвЂ™s yearly, quarterly as well as other reports filed using the Securities and Exchange Commission.
EZCORP Investor Relations (512) 314-2220
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