First Cash Buys Mister Money Pawn for $25.5 M

The acquisition spans four states for a total of 24 shops

Monday, Jun 18, 2012  |  Updated 10:17 AM CDT
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First Cash Buys Mister Money Pawn for $25.5 M

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Dallas area-based First Cash Financial Services Inc. is buying 24 Mister Money pawn shops in four states for about $25.5 million.

The stores are in Colorado, Kentucky, Wyoming and Nebraska.

First Cash CEO Rick Wessel said Monday that the buyout will give it its first shops in the Rocky Mountain region and strengthen its Midwest presence.

The deal closed Friday and is expected to result in about 1 cent per share in acquisition-related costs in the second quarter.

First Cash is also doubling its existing credit facility to $100 million. The Arlington company had $75 million outstanding on the facility as of Friday, which includes borrowings associated with the acquisition.

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