EZCORP, Inc. $(EZPW)$, a leading provider of pawn loans in the United States and Latin America, has announced the acquisition of 40 pawn stores across 13 states in Mexico. These stores, operating under the names "Monte Providencia" and "Tu Empeño Efectivo," offer both traditional pawn loans and auto pawn transactions, some in stand-alone auto pawn locations. This purchase expands EZCORP's presence in Mexico, adding to its portfolio of 1,332 pawn stores, 602 of which are now in Mexico. Additionally, the company has taken over the management of 7 more Monte Providencia stores, with plans to acquire them in the coming months. Lachie Given, Chief Executive Officer, highlighted that the acquisition supports the company's strategic goal of geographic expansion and diversification into the growing auto pawn segment.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.