Fort Worth Star Telegram (blog):
Fort Worth-based Cash America International, the nation’s largest pawn shop operator, said today it plans to acquire “substantially all of the assets” of seven Arizona pawn shops operated by a franchisee for between $46 million and $50 million. Cash America once had a number of franchise locations, but now owns nearly all its more than 600 pawn shops. The deal will give it 28 company-owned stores in the state.
Cash America also said it boosted its existing line of credit by $100 million, to $380 million. It said it will use the money to complete acquisitions, buy back shares under an existing share repurchase plan and for other corporate purposes.