FirstCash Holdings Inc. Acquires Ramsdens Holdings plc: Expanding UK Pawn Store Network
FirstCash Holdings Inc. has announced its acquisition of Ramsdens Holdings plc, a UK pawnbroking operator, for approximately £206 million or $273 million. The deal involves FirstCash paying 600 pence per share in cash for Ramsdens stock through its UK subsidiary, Chess Bidco Limited. This acquisition will add 174 pawn locations across England, Scotland, and Wales to FirstCash's existing operations, expanding its UK footprint to nearly 470 stores. Ramsdens reported revenue of $200 million and net income of $26 million for the trailing twelve months ended March 31, 2026. The transaction is expected to close by the end of 2026, pending approval by Ramsdens' shareholders and regulatory authorities in the UK.
The acquisition of Ramsdens by FirstCash Holdings Inc. marks a significant expansion of FirstCash's pawn store network in the UK. With the addition of 174 pawn locations across England, Scotland, and Wales, FirstCash's UK footprint will grow to nearly 470 stores. Ramsdens reported revenue of $200 million and net income of $26 million for the trailing twelve months ended March 31, 2026. The transaction is expected to close by the end of 2026, subject to approval by Ramsdens' shareholders and regulatory authorities in the UK.
FirstCash Holdings Inc. has agreed to acquire Ramsdens Holdings plc, a UK pawnbroking operator, for approximately £206 million or $273 million. The deal involves FirstCash paying 600 pence per share in cash for Ramsdens stock through its UK subsidiary, Chess Bidco Limited. This acquisition will add 174 pawn locations across England, Scotland, and Wales to FirstCash's existing operations, expanding its UK footprint to nearly 470 stores. Ramsdens reported revenue of $200 million and net income of $26 million for the trailing twelve months ended March 31, 2026. The transaction is expected to close by the end of 2026, pending approval by Ramsdens' shareholders and regulatory authorities in the UK.
In addition to the acquisition of Ramsdens, FirstCash Holdings Inc. recently reported strong financial results for the first quarter, with revenues reaching $1.052 billion and adjusted earnings per share of $2.69. The company exceeded analyst expectations, with adjusted EBITDA of $211 million, surpassing the consensus estimate of $196 million. Following these robust earnings, Texas Capital Securities raised its price target for FirstCash Financial shares to $245, while Jefferies increased its target to $250, both maintaining a Buy rating. FirstCash Holdings also completed its reincorporation from Delaware to Texas, approved by a majority of its stockholders, and initiated a private placement offering of $600 million in senior notes due in 2034, guaranteed by FirstCash and its domestic subsidiaries.
In conclusion, the acquisition of Ramsdens Holdings plc by FirstCash Holdings Inc. represents a strategic move to expand its pawn store network in the UK. With the addition of 174 pawn locations, FirstCash's UK footprint will grow to nearly 470 stores, strengthening its presence in the region. The transaction is expected to close by the end of 2026, pending approval by Ramsdens' shareholders and regulatory authorities in the UK. This acquisition, coupled with FirstCash's strong financial performance and corporate developments, positions the company for continued growth and success in the future.