FirstCash Holdings, Inc. (NASDAQ:FCFS) is expanding into the U.K. with the acquisition of H&T Group plc, the country’s largest pawnbroker chain.

The Texas-based pawnshop operator announced on Wednesday it will purchase all outstanding H&T shares through its U.K. subsidiary, Chess Bidco Limited, in an all-cash deal valued at approximately $394 million.

The agreement includes a payment of 650 pence per share and a final dividend of 11 pence per share, payable in late June. The acquisition strengthens FirstCash’s global footprint, adding 285 U.K. stores to its existing network and positioning the company as the largest publicly traded pawn operator across the U.S., Latin America, and the U.K.

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FirstCash CEO and Vice-Chairman Rick Wessel said the acquisition aligns with the company’s long-term strategy and praised H&T’s strong brand and experienced leadership. H&T CEO Chris Gillespie called the deal a testament to the company’s success and a new chapter for growth under FirstCash’s ownership.

Beyond geographic expansion, FirstCash expects to benefit from operational efficiencies and scale. The company anticipates the acquisition will boost earnings per share and EBITDA, supporting its broader international strategy.

Upon completion, the combined business will operate more than 3,000 pawn locations worldwide, with the potential for further expansion into additional European markets.

FirstCash held cash and cash equivalents of $175.095 million as of December 31, 2024.

Price Action: FCFS stock is down 2.14% to $129.91 premarket at last check on Wednesday.

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This article FirstCash Enters UK Market With $394 Million Acquisition Of H&T Group originally appeared on Benzinga.com

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