FirstCash Buys 154 Stores In Mexico; FY18 Additions Projected To Reach 425

(RTTNews) - FirstCash Inc. (FCFS), an operator of retail pawn stores, announced Tuesday two third quarter asset acquisitions for a total of 154 full-service pawn stores in Mexico.

The company said it now expects to add approximately 425 total locations in 2018, which includes at least 65 new store openings and the 360 stores acquired year-to-date. The aggregate purchase price for the 360 stores acquired thus far in 2018 is approximately $105 million.

With the latest acquisitions and continued openings of new stores, the Company's consolidated store count now stands at 2,444 locations.

The acquisitions were completed in two separate transactions with unrelated ownership groups. The first acquisition of 97 stores located in the southern gulf region of Mexico closed on August 15, while the second acquisition of 57 stores in east-central Mexico, closed on September 6.

FirstCash now operates 1,340 locations in Latin America, representing 55% of its total store base. Additionally, the Company acquired 18 stores in the U.S. this year and now operates 1,104 U.S. locations.