AUSTIN, Texas--(BUSINESS WIRE)--EZCORP, Inc. (NASDAQ:EZPW), a leading provider of pawn loans in the United States and Latin America, announced that it has completed the acquisition of seven pawn stores in Nevada, bringing the company’s total store count in the state to 24. The acquired stores, operating under the name “Metro Pawn,” include five stores in the Reno area, representing the company’s entry into another attractive market, and two stores in the Las Vegas area, giving the company a total of 19 stores in that market. EZCORP now owns and operates 985 pawn stores, with 515 in the United States and 470 in Latin America.
Stuart Grimshaw, EZCORP Chief Executive Officer stated: “The Metro Pawn acquisition provides us with an immediate market-leading position in the Reno area and enhances our already strong position in the Las Vegas market. We expect the acquisition to be immediately accretive to earnings and plan to enhance profitability with administrative synergies and through the introduction of EZCORP’s proprietary systems, processes and expertise.”
The acquisition was completed earlier today, and the purchase price was paid in cash.
Formed in 1989, EZCORP is a leading provider of pawn loans in the United States and Latin America. It also sells merchandise, primarily collateral forfeited from pawn lending operations and used merchandise purchased from customers. We are dedicated to satisfying the short-term cash needs of consumers who are both cash and credit constrained, focusing on an industry-leading customer experience. EZCORP is traded on NASDAQ under the symbol EZPW and is a member of the Russell 2000 Index, S&P SmallCap 600 Index, S&P 1000 Index and Nasdaq Composite Index.
FORWARD LOOKING STATEMENTS
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