Business
FirstCash to Acquire H&T Group, the Leading Operator of Pawnshops in the United Kingdom
Marks FirstCash’s strategic entry into the UK market through an established, industry-leading brand;Provides further geographic diversification and unlocks
About this update from Firstcash Holdings, Inc.
[{"type":"text","content":"Marks FirstCash’s strategic entry into the UK market through an established, industry-leading brand;Provides further geographic diversification and unlocks additional growth opportunities;Expected to be meaningfully accretive to EBITDA and EPS;Strengthens FirstCash’s position as a global leader in pawn operations FORT WORTH, Texas, May 14, 2025 (GLOBE NEWSWIRE) -- FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (Nasdaq: FCFS), a leading international operator of over 3,000 retail pawn stores in the U.S. and Latin America, today announced that it has reached agreement on the terms of a final* recommended cash acquisition of H&T Group plc (“H&T”), the leading operator of pawn stores in the United Kingdom. Under the terms of the agreement, FirstCash (through a newly incorporated wholly-owned U.K. subsidiary, Chess Bidco Limited) will pay cash consideration of 650 pence for each share of H&T stock. In addition, H&T shareholders will receive a final dividend of 11 pence for each H&T share to be paid on June 27, 2025. The total equity value, including cash consideration for the shares and the final cash dividend, is approximately £297 million or $394 million USD based on the exchange rate as of the close of business on May 13, 2025. The acquisition of H&T expands FirstCash’s geographic footprint into a new and attractive market, further providing the Company with enhanced scale, operating efficiencies and long-term growth opportunities. This combination of FirstCash and H&T will create the largest publicly traded pawn platform in the United States, Latin America and the United Kingdom. Mr. Rick Wessel, Chief Executive Officer and Vice-Chairman of the Board of FirstCash, commented, “We are excited to add H&T, the leading pawn operator in the United Kingdom, as part of FirstCash’s global platform. This strategic transaction provides an entry into a significant new market which we believe will unlock additional growth opportunities for the Company. We have great confidence in H&T's continued success given their proven track record coupled with their experienced management and operations teams. FirstCash looks forward to working together to drive long-term value for all of our customers, employees, and shareholders.\" Mr. Chris Gillespie, Chief Executive Officer of H&T, commented, “The acquisition has a compelling strategic ration...