logo
Plus   Neg
Share
Email

FirstCash Buys 154 Stores In Mexico; FY18 Additions Projected To Reach 425

FirstCash Inc. (FCFS), an operator of retail pawn stores, announced Tuesday two third quarter asset acquisitions for a total of 154 full-service pawn stores in Mexico.

The company said it now expects to add approximately 425 total locations in 2018, which includes at least 65 new store openings and the 360 stores acquired year-to-date. The aggregate purchase price for the 360 stores acquired thus far in 2018 is approximately $105 million.

With the latest acquisitions and continued openings of new stores, the Company's consolidated store count now stands at 2,444 locations.

The acquisitions were completed in two separate transactions with unrelated ownership groups. The first acquisition of 97 stores located in the southern gulf region of Mexico closed on August 15, while the second acquisition of 57 stores in east-central Mexico, closed on September 6.

FirstCash now operates 1,340 locations in Latin America, representing 55% of its total store base. Additionally, the Company acquired 18 stores in the U.S. this year and now operates 1,104 U.S. locations.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tech giant Apple Inc. (AAPL) is reportedly planning to begin assembling a new low-cost iPhone 9 in February. According to Bloomberg, the Cupertino, California-based company is expected to officially unveil the new phone as early as March. The assembly work for the new handset will be split among Taiwan-based... A Louisville, Kentucky-based franchise of Wendy's and Fazoli's restaurants, was ordered by the federal government to pay a civil penalty of $157,114 for violating child labor laws. The U.S. Department of Labor's Wage and Hour Division or WHD said its investigation found that Manna Inc. violated child labor requirements of the Fair Labor Standards Act at 99 Wendy's and Fazoli's restaurants. Tesla's market capitalization briefly crept up the $100 billion mark in extended trading on Tuesday, making it the first publicly-listed automaker in the U.S. to achieve the feat. Tesla's stock gained 7.2 percent to close Tuesday's regular trading session at $547.20, and rose to $555 in after-hours trading, pushing the luxury electric car maker's market valuation to more than $100 billion.
RELATED NEWS
Follow RTT
>