AUSTIN, Texas, May 17, 2011 /PRNewswire/ -- EZCORP, Inc.
(Nasdaq: EZPW) announced today that it has completed the previously
announced acquisition of fifteen Mister Money pawn stores located
in Iowa, Wisconsin, and Illinois. The purchase price was paid in
cash.
(Logo:
http://photos.prnewswire.com/prnh/20090713/EZCORPLOGO)
"With the addition of these stores, we continue to solidify and
expand our presence in new and underserved areas," said
Eric Fosse, President of the
company's North American Operations. "Eleven of the acquired
stores are in Iowa, which is an
entirely new state for us and one we see as attractive for further
expansion. Three stores are in Wisconsin and will complement our 35 EZMONEY
loan stores in that state. The remaining store is in an area
of Illinois in which we did not
previously have a presence."
"This acquisition brings the number of states in which we
operate pawn stores to 16, compared to 12 at this time last year,"
continued Mr. Fosse. "Strengthening our U.S. pawn presence,
both through opportunistic acquisitions and new store expansion,
remains an important component of our growth strategy."
About EZCORP
EZCORP is a leading provider of specialty consumer financial
services. It provides collateralized non-recourse loans,
commonly known as pawn loans, and a variety of short-term consumer
loans, including payday loans, installment loans and auto title
loans, or fee-based credit services to customers seeking
loans. At its pawn stores, the company also sells
merchandise, primarily collateral forfeited from its pawn lending
operations.
EZCORP operates more than 1,000 stores, including over 500 pawn
stores in the U.S. and Mexico and
over 500 short-term consumer loan stores in the U.S. and
Canada. The company also has significant investments in Cash
Converters International Limited (CCV.L and CCV.ASX), which
franchises and operates a worldwide network of over 600 stores in
21 countries that provide financial services and sell pre-owned
merchandise, and Albemarle & Bond Holdings PLC (ABM.L), one of
the U.K.'s largest pawnbroking businesses with over 140 stores.
Special Note Regarding Forward-Looking Statements
This announcement contains certain forward-looking statements
regarding the Company's expected performance in future periods,
including the anticipated impact of the newly acquired stores.
These statements are based on the Company's current
expectations. Actual results for future periods may differ
materially from those expressed or implied by these forward-looking
statements due to a number of uncertainties and other factors,
including changing market conditions in the overall economy and the
industry, consumer demand for the Company's services and
merchandise and changes in the regulatory environment. For a
discussion of these and other factors affecting the Company's
business and prospects, see the Company's annual, quarterly and
other reports filed with the Securities and Exchange
Commission.
EZCORP Investor Relations
(512) 314-2220
SOURCE EZCORP, Inc.