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| 8-K - FORM 8-K - EZCORP INC | d82102e8vk.htm |
Exhibit
99.1
EZCORP ANNOUNCES ACQUISITION OF PAWN STORES IN UTAH
AUSTIN, Texas (May 5, 2011) — EZCORP, Inc. (Nasdaq: EZPW) announced today that it has
completed the acquisition of seven pawn stores located in the Salt Lake City area. These stores,
which have been operated under the Jumping Jack Cash brand, were purchased for cash from Jumping
Jack Cash Utah, LLC. The acquired stores include four traditional pawn stores, two “super stores,”
and one jewelry-only specialty store.
“The acquisition of these stores gives us an immediate and significant pawn presence in the Salt
Lake City area,” said Eric Fosse, President of the company’s North American Operations. “Salt Lake
City is a very attractive area for us, and these pawn stores complement our existing 17 EZ Loan
Services stores in Utah.”
“This acquisition also aligns with our strategic initiative to diversify our product offerings,
delivery methods and geographies,” continued Mr. Fosse. “With our previously announced planned
acquisition of 15 Mister Money pawn stores in Iowa, Wisconsin, and Illinois, which is scheduled to
close later this month, we will have extended our U.S. pawn operations into three new states this
year. These acquisitions enable us to leverage our existing operational structure, while giving us
a solid base for continued expansion.”
About EZCORP
EZCORP is a leading provider of specialty consumer financial services. It provides collateralized
non-recourse loans, commonly known as pawn loans, and a variety of short-term consumer loans,
including payday loans, installment loans and auto title loans, or fee-based credit services to
customers seeking loans. At its pawn stores, the company also sells merchandise, primarily
collateral forfeited from its pawn lending operations.
EZCORP operates more than 1,000 stores, including over 500 pawn stores in the U.S. and Mexico and
over 500 short-term consumer loan stores in the U.S. and Canada. The company also has significant
investments in Cash Converters International Limited (CCV.L and CCV.ASX), which franchises and
operates a worldwide network of over 600 stores in 21 countries that provide financial services and
sell pre-owned merchandise, and Albemarle & Bond Holdings PLC (ABM.L), one of the U.K.’s largest
pawnbroking businesses with over 140 stores.
Special Note Regarding Forward-Looking Statements
This announcement contains certain forward-looking statements regarding the Company’s expected
performance in future periods, including the anticipated impact of the newly acquired stores.
These statements are based on the Company’s current expectations. Actual results for future
periods may differ materially from those expressed or implied by these forward-looking statements
due to a number of uncertainties and other factors, including changing market conditions in the
overall economy and the industry, consumer demand for the Company’s services and merchandise and
changes in the regulatory environment. For a discussion of these and other factors affecting the
Company’s business and prospects, see the Company’s annual, quarterly and other reports filed with
the Securities and Exchange Commission.
EZCORP Investor Relations
(512) 314-2220.
(512) 314-2220.