- Cash Converters (CCV) officially acquires Capital Cash in the United Kingdom for $24.7 million
- Capital Cash is the largest franchise group in the UK, operating for more than 20 years
- Cash Converters plans to see rebound growth in Capital Cash as well as expand the company’s corporate footprint in the UK
- The acquisition is a core part of the company’s strategy to acquire value-accretive franchise store networks
- Shares rose 2.27 per cent to 22.5 cents at 11:28 am AEST
Cash Converters (CCV) has officially acquired Capital Cash in the United Kingdom for $24.7 million.
Capital Cash is the largest franchise group in the UK, operating for more than 20 years.
Cash Converters also reported Capital Cash was experiencing a rebound in loan book growth and overall trading activity as anticipated.
The acquisition was made in an attempt to expand the company’s corporate footprint in the UK.
Cash Converters announced its intent to purchase the franchise earlier this year, signing a sale and purchase agreement.
The acquisition is a core part of the company’s strategy to snap up value-accretive franchise store networks and helps CCV establish a corporate base and oversee the company’s European operation.
CCV rose 2.27 per cent to 22.5 cents at 11:28 am AEST.