FirstCash to acquire H&T Group for $394M

FirstCash (FCFS) announced that it has reached agreement on the terms of a final recommended cash acquisition of H&T Group, an operator of pawn stores in the United Kingdom. Under the terms of the agreement, FirstCash will pay cash consideration of 650 pence for each share of H&T stock. In addition, H&T shareholders will receive a final dividend of 11 pence for each H&T share to be paid on June 27. The total equity value, including cash consideration for the shares and the final cash dividend, is approximately GBP 297M or $394M based on the exchange rate as of the close of business on May 13. This combination of FirstCash and H&T will create the largest publicly traded pawn platform in the United States, Latin America and the United Kingdom. The acquisition has been unanimously approved by the boards of directors of both FirstCash and H&T. The transaction is subject to approval by H&T’s shareholders and customary regulatory approvals in the United Kingdom. The transaction is expected to close in the second half of 2025, subject to receipt of these approvals and the satisfaction of other customary closing conditions.