EZCorp, the pawnshop operator headquartered in Austin, Texas, has purchased 13 USA Pawn & Jewelry stores in Arizona and Oregon.
The stores were purchased for $12.5 million cash.
“USA Pawn & Jewelry is a very successful operation, with well-run stores in strategic locations,” said Stuart Grimshaw, EZCorp CEO. “This acquisition expands our market presence in Arizona, and we are now the second largest pawnshop operator in that state. The acquisition also gives us five stores in Oregon. This is our first-ever presence in the Pacific Northwest, which we consider to be a significant opportunity for us.”
EZCorp operates nearly 1,000 locations locations in the U.S., mostly under the names EZPawn and Value Pawn & Jewelry.