Latest news with #ChrisGillespie
Yahoo
14-05-2025
- Business
- Yahoo
FirstCash Enters UK Market With $394 Million Acquisition Of H&T Group
FirstCash Holdings, Inc. (NASDAQ:FCFS) is expanding into the U.K. with the acquisition of H&T Group plc, the country's largest pawnbroker chain. The Texas-based pawnshop operator announced on Wednesday it will purchase all outstanding H&T shares through its U.K. subsidiary, Chess Bidco Limited, in an all-cash deal valued at approximately $394 million. The agreement includes a payment of 650 pence per share and a final dividend of 11 pence per share, payable in late June. The acquisition strengthens FirstCash's global footprint, adding 285 U.K. stores to its existing network and positioning the company as the largest publicly traded pawn operator across the U.S., Latin America, and the CEO and Vice-Chairman Rick Wessel said the acquisition aligns with the company's long-term strategy and praised H&T's strong brand and experienced leadership. H&T CEO Chris Gillespie called the deal a testament to the company's success and a new chapter for growth under FirstCash's ownership. Beyond geographic expansion, FirstCash expects to benefit from operational efficiencies and scale. The company anticipates the acquisition will boost earnings per share and EBITDA, supporting its broader international strategy. Upon completion, the combined business will operate more than 3,000 pawn locations worldwide, with the potential for further expansion into additional European markets. FirstCash held cash and cash equivalents of $175.095 million as of December 31, 2024. Price Action: FCFS stock is down 2.14% to $129.91 premarket at last check on Wednesday. Image by – Yuri A via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? FIRSTCASH HLDGS (FCFS): Free Stock Analysis Report This article FirstCash Enters UK Market With $394 Million Acquisition Of H&T Group originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South Wales Argus
14-05-2025
- Business
- South Wales Argus
Pawnbroker H&T snapped up by US firm in another loss for London Stock Exchange
H&T said on Wednesday that it had accepted an offer from Texas-based FirstCash to buy the company for £297 million. Founded in 1897, the UK's largest pawnbroker has more than 270 shops across England, Scotland and Wales, and has already received several offers from FirstCash. The most recent represents 661p for each H&T share, representing a 44% premium to the group's closing share price on Tuesday. H&T chief executive Chris Gillespie said the deal has a 'compelling strategic rationale, bringing together two businesses with complementary offerings'. 'It's clear to us that FirstCash has full appreciation of our capabilities, the dedication of our employees, commitment to the customer and with their backing and support, I am confident H&T will have an extremely bright future.' The deal will mean another major UK-listed company leaving the London stock exchange (PA) FirstCash chief executive Rick Wessel said the deal 'provides an entry into a significant new market, which we believe will unlock additional growth opportunities'. Pawnbrokers are frequently seen as a proxy for how much financial strain households are under. And H&T has enjoyed a booming trade of late, welcoming record new customer numbers in the final months of last year. The cost of living crisis, sparked by rampant inflation through 2022 and 2023, has put pressure on consumers, pushing more people to turn to pawnbrokers. FirstCash has more than 3,000 retail locations, mainly across the US and Latin America, and employs about 18,000 people. Its acquisition of H&T marks yet another instance of a major UK-listed company leaving the London Stock Exchange, following the likes of tech firm Darktrace and Paddy Power-owner Flutter. H&T chairman Simon Walker said: 'Following careful consideration, the H&T Directors have unanimously concluded that they intend to recommend this offer, considering it to be in the interests of all our shareholders and wider stakeholders.'
Glasgow Times
14-05-2025
- Business
- Glasgow Times
Pawnbroker H&T snapped up by US firm in another loss for London Stock Exchange
H&T said on Wednesday that it had accepted an offer from Texas-based FirstCash to buy the company for £297 million. Founded in 1897, the UK's largest pawnbroker has more than 270 shops across England, Scotland and Wales, and has already received several offers from FirstCash. The most recent represents 661p for each H&T share, representing a 44% premium to the group's closing share price on Tuesday. H&T chief executive Chris Gillespie said the deal has a 'compelling strategic rationale, bringing together two businesses with complementary offerings'. 'It's clear to us that FirstCash has full appreciation of our capabilities, the dedication of our employees, commitment to the customer and with their backing and support, I am confident H&T will have an extremely bright future.' The deal will mean another major UK-listed company leaving the London stock exchange (PA) FirstCash chief executive Rick Wessel said the deal 'provides an entry into a significant new market, which we believe will unlock additional growth opportunities'. Pawnbrokers are frequently seen as a proxy for how much financial strain households are under. And H&T has enjoyed a booming trade of late, welcoming record new customer numbers in the final months of last year. The cost of living crisis, sparked by rampant inflation through 2022 and 2023, has put pressure on consumers, pushing more people to turn to pawnbrokers. FirstCash has more than 3,000 retail locations, mainly across the US and Latin America, and employs about 18,000 people. Its acquisition of H&T marks yet another instance of a major UK-listed company leaving the London Stock Exchange, following the likes of tech firm Darktrace and Paddy Power-owner Flutter. H&T chairman Simon Walker said: 'Following careful consideration, the H&T Directors have unanimously concluded that they intend to recommend this offer, considering it to be in the interests of all our shareholders and wider stakeholders.'
Western Telegraph
14-05-2025
- Business
- Western Telegraph
Pawnbroker H&T snapped up by US firm in another loss for London Stock Exchange
H&T said on Wednesday that it had accepted an offer from Texas-based FirstCash to buy the company for £297 million. Founded in 1897, the UK's largest pawnbroker has more than 270 shops across England, Scotland and Wales, and has already received several offers from FirstCash. The most recent represents 661p for each H&T share, representing a 44% premium to the group's closing share price on Tuesday. H&T chief executive Chris Gillespie said the deal has a 'compelling strategic rationale, bringing together two businesses with complementary offerings'. 'It's clear to us that FirstCash has full appreciation of our capabilities, the dedication of our employees, commitment to the customer and with their backing and support, I am confident H&T will have an extremely bright future.' The deal will mean another major UK-listed company leaving the London stock exchange (PA) FirstCash chief executive Rick Wessel said the deal 'provides an entry into a significant new market, which we believe will unlock additional growth opportunities'. Pawnbrokers are frequently seen as a proxy for how much financial strain households are under. And H&T has enjoyed a booming trade of late, welcoming record new customer numbers in the final months of last year. The cost of living crisis, sparked by rampant inflation through 2022 and 2023, has put pressure on consumers, pushing more people to turn to pawnbrokers. FirstCash has more than 3,000 retail locations, mainly across the US and Latin America, and employs about 18,000 people. Its acquisition of H&T marks yet another instance of a major UK-listed company leaving the London Stock Exchange, following the likes of tech firm Darktrace and Paddy Power-owner Flutter. H&T chairman Simon Walker said: 'Following careful consideration, the H&T Directors have unanimously concluded that they intend to recommend this offer, considering it to be in the interests of all our shareholders and wider stakeholders.'
Powys County Times
14-05-2025
- Business
- Powys County Times
Pawnbroker H&T snapped up by US firm in another loss for London Stock Exchange
British pawnbroking chain H&T is to be bought by a US firm, in a deal which takes yet another company off the London Stock Exchange. H&T said on Wednesday that it had accepted an offer from Texas-based FirstCash to buy the company for £297 million. Founded in 1897, the UK's largest pawnbroker has more than 270 shops across England, Scotland and Wales, and has already received several offers from FirstCash. The most recent represents 661p for each H&T share, representing a 44% premium to the group's closing share price on Tuesday. H&T chief executive Chris Gillespie said the deal has a 'compelling strategic rationale, bringing together two businesses with complementary offerings'. 'It's clear to us that FirstCash has full appreciation of our capabilities, the dedication of our employees, commitment to the customer and with their backing and support, I am confident H&T will have an extremely bright future.' FirstCash chief executive Rick Wessel said the deal 'provides an entry into a significant new market, which we believe will unlock additional growth opportunities'. Pawnbrokers are frequently seen as a proxy for how much financial strain households are under. And H&T has enjoyed a booming trade of late, welcoming record new customer numbers in the final months of last year. The cost of living crisis, sparked by rampant inflation through 2022 and 2023, has put pressure on consumers, pushing more people to turn to pawnbrokers. FirstCash has more than 3,000 retail locations, mainly across the US and Latin America, and employs about 18,000 people. Its acquisition of H&T marks yet another instance of a major UK-listed company leaving the London Stock Exchange, following the likes of tech firm Darktrace and Paddy Power-owner Flutter. H&T chairman Simon Walker said: 'Following careful consideration, the H&T Directors have unanimously concluded that they intend to recommend this offer, considering it to be in the interests of all our shareholders and wider stakeholders.'
