First Cash Financial Buys Texas Pawn Shops

Before you go, we thought you'd like these...
Before you go close icon

First Cash Financial Services is becoming a pawn star. The company announced it has acquired a set of 19 large-format pawn shops in Texas, most of which operate under the Valu + Pawn brand name. The price was around $70 million in cash, funded for the most part under the company's revolving credit facility.

First Cash said the stores, which are located in Houston, Dallas, and Fort Worth, have already been consolidated into its operations and financials.

Including this purchase, First Cash operates 866 outlets. This is a 17% increase over the total at the beginning of June 2012.

The company expects its new acquisition to produce "meaningful" earnings accretion, particularly starting next year.

The article First Cash Financial Buys Texas Pawn Shops originally appeared on

Fool contributor Eric Volkman has no position in First Cash Financial Services. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners