EZCORP announced the acquisition of 40 pawn stores across 13 states in Mexico, operating under the names "Monte Providencia" and "Tu Empeño Efectivo." This acquisition significantly expands the company's geographic footprint in a key market. Mexico continues to be one of EZCORP's most attractive markets, demonstrating strong financial performance and robust growth potential.
The acquired stores offer both traditional pawn loans and auto pawn transactions, with some operating as stand-alone auto pawn stores. This expansion diversifies EZCORP's pawn portfolio by entering the auto pawn segment, which is a growing part of the Mexican pawn industry and enables higher dollar auto loan transactions, engaging a new customer base.
With this acquisition, EZCORP now operates a total of 1,332 pawn stores, with 787 located in Latin America, including 602 in Mexico. The company also takes over the management of 7 additional Monte Providencia stores, with plans for future acquisition.
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