Ezcorp to acquire 53 pawn stores in Mexico, terms undisclosed

Ezcorp announced that it has entered into a definitive agreement to acquire 53 pawn stores in Mexico. The seller, Presta Dinero and doing business as “Auto Dinero,” currently operates across 21 states in Mexico and specializes in two types of auto pawn transactions – auto pawn, where the pawnbroker takes possession of the vehicle, and title pawn, where the vehicle title document is pawned, allowing the customer to retain use of their vehicle while repaying the pawn transaction. Auto Dinero was founded in 2005 by Jorge Hernandez, a pawn executive with extensive experience in the industry, who will join Ezcorp as a result of the transaction. The purchase agreement was entered into on September 10 and subject to customary closing conditions, the transaction is expected to close on or before October 31.