EZCORP Announces Termination of Acquisition Agreement
EZCORP (NASDAQ: EZPW) has announced the termination of its definitive agreement with Presta Dinero for the acquisition of 53 stores in Mexico. The original agreement was established on September 10, 2024.
Despite this setback, the pawn loans provider, which currently operates more than 560 stores across Mexico, remains committed to its expansion strategy in the region. The company plans to continue its growth through new store openings (de novo) while maintaining a disciplined approach to potential acquisitions.
EZCORP (NASDAQ: EZPW) ha annunciato la risoluzione del suo accordo definitivo con Presta Dinero per l'acquisizione di 53 negozi in Messico. L'accordo originale è stato stipulato il 10 settembre 2024.
Nonostante questo contrattempo, il fornitore di prestiti su pegno, che attualmente gestisce più di 560 negozi in Messico, rimane impegnato nella sua strategia di espansione nella regione. L'azienda prevede di continuare la sua crescita attraverso nuove aperture di negozi (de novo) mantenendo un approccio disciplinato alle potenziali acquisizioni.
EZCORP (NASDAQ: EZPW) ha anunciado la terminación de su acuerdo definitivo con Presta Dinero para la adquisición de 53 tiendas en México. El acuerdo original se estableció el 10 de septiembre de 2024.
A pesar de este contratiempo, el proveedor de préstamos sobre empeño, que actualmente opera más de 560 tiendas en México, sigue comprometido con su estrategia de expansión en la región. La empresa planea continuar su crecimiento a través de nuevas aperturas de tiendas (de novo) mientras mantiene un enfoque disciplinado hacia posibles adquisiciones.
EZCORP (NASDAQ: EZPW)는 Presta Dinero와의 53개 매장 인수에 대한 최종 계약을 종료했다고 발표했습니다. 원래 계약은 2024년 9월 10일에 체결되었습니다.
이러한 난관에도 불구하고, 현재 멕시코 전역에 560개 이상의 매장을 운영하고 있는 담보 대출 제공업체는 이 지역에서의 확장 전략에 대한 의지를 유지하고 있습니다. 회사는 새로운 매장 개설(신규) 통해 성장을 지속할 계획이며, 잠재적 인수에 대해서는 엄격한 접근 방식을 유지할 것입니다.
EZCORP (NASDAQ: EZPW) a annoncé la résiliation de son accord définitif avec Presta Dinero pour l'acquisition de 53 magasins au Mexique. L'accord original a été établi le 10 septembre 2024.
Malgré ce revers, le fournisseur de prêts sur gage, qui exploite actuellement plus de 560 magasins à travers le Mexique, reste engagé dans sa stratégie d'expansion dans la région. L'entreprise prévoit de continuer sa croissance grâce à l'ouverture de nouveaux magasins (de novo) tout en maintenant une approche disciplinée vis-à-vis des acquisitions potentielles.
EZCORP (NASDAQ: EZPW) hat die Beendigung seiner endgültigen Vereinbarung mit Presta Dinero zum Erwerb von 53 Filialen in Mexiko bekannt gegeben. Die ursprüngliche Vereinbarung wurde am 10. September 2024 getroffen.
Trotz dieses Rückschlags bleibt der Anbieter von Pfandkrediten, der derzeit über 560 Filialen in Mexiko verfügt, seiner Expansionsstrategie in der Region verpflichtet. Das Unternehmen plant, sein Wachstum durch die Eröffnung neuer Filialen (de novo) fortzusetzen und dabei einen disziplinierten Ansatz für potenzielle Übernahmen zu verfolgen.
- Strong existing presence with over 560 stores in Mexico
- Continued commitment to market expansion through new store openings
- Termination of strategic acquisition agreement for 53 stores in Mexico
- Loss of immediate expansion opportunity in Mexican market
AUSTIN, Texas, March 19, 2025 (GLOBE NEWSWIRE) -- EZCORP, Inc. (NASDAQ: EZPW) (the “Company”), a leading provider of pawn loans in the United States and Latin America, announced today that it has terminated its definitive agreement with Presta Dinero, S.A. de C.V. for the purchase of 53 stores in Mexico, which was entered into on September 10, 2024.
Lachie Given, EZCORP Chief Executive Officer, stated, “While the termination of the present transaction is unfortunate, we remain excited about our expansion opportunities in Mexico. We currently operate over 560 stores across Mexico and continue to grow our footprint through opening de novo stores, while maintaining our disciplined pursuit of opportunistic acquisitions.”
ABOUT EZCORP
Formed in 1989, EZCORP has grown into a leading provider of pawn transactions in the United States and Latin America. We also sell pre-owned and recycled merchandise, primarily collateral forfeited from pawn lending operations and merchandise purchased from customers. We are dedicated to satisfying the short-term cash needs of consumers who are both cash and credit constrained, focusing on an industry-leading customer experience. EZCORP is traded on NASDAQ under the symbol EZPW and is a member of the S&P 1000 Index and Nasdaq Composite Index.
FORWARD LOOKING STATEMENTS
This announcement contains certain forward-looking statements regarding the Company’s strategy, initiatives and expected performance. These statements are based on the Company’s current expectations as to the outcome and timing of future events. All statements, other than statements of historical facts, including all statements regarding the Company's strategy, initiatives and future performance, that address activities or results that the Company plans, expects, believes, projects, estimates or anticipates, will, should or may occur in the future, including future financial or operating results, are forward-looking statements. 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 operating risks, liquidity risks, legislative or regulatory developments, market factors and current or future litigation. 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. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
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Investor Relations Contact:
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Elevate IR
EZPW@elevate-ir.com
(720) 330-2829
FAQ
Why did EZCORP (EZPW) terminate the Presta Dinero acquisition agreement?
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