« Dallas doctors seek pollution controls at East Texas coal plants | Main | Security One credit union members OK merger with Texas Trust »

08/28/2013

Cash America to acquire 34-store pawn shop chain

Fort Worth-based Cash America International agreed to buy the assets of PawnMart, a chain with 31 pawn shops in Georgia and three in North Carolina, for about $62 million in cash. The stores had $10.7 million in pawn loan balances outstanding as of Dec. 31. The move will nearly triple Cash America's presence in and around Atlanta, giving it 48 locations in that metro area. The North Carolina stores are in Charlotte.

"Adding this well-run group of pawn stores and talented team will enhance our pawn business for many years to come," Cash America CEO Dan Feehan said in a prepared release. The deal is expected to close in the fourth quarter.  Cash America currently has 827 pawn stores in 22 states, 47 in Mexico and 90 check-cashing centers in 14 states.

-- Jim Fuquay

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c2cc953ef019aff0d0339970b

Listed below are links to weblogs that reference Cash America to acquire 34-store pawn shop chain:

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.

-->

Category Cloud

Blog powered by TypePad
Member since 01/2007