DGSE Companies announced it has generated a nonbinding letter of intent to buy National Pawn, a 27-store pawnshop chain.
No definitive agreement has been reached, a statement cautioned. The statement did not include a price for the possible acquisition.
If an agreement is reached, the acquisition will likely close in the third quarter.
Austin, Texas–based National Pawn was founded in 1993 and has stores in Arizona, North Carolina, Oklahoma, and Texas.
In April, DGSE also issued a nonbinding letter of intent to acquire certain assets of Elemetal Recycling, LLC from Elemetal, LLC. This transaction is progressing well, DGSE said.
It also expects to divest its wholesale watch division, Fairchild International, and associated website, fairchildwatches.com.
(Image from Yelp)