FirstCash Strikes Deal to Acquire Ramsdens
Shares in Ramsdens Holdings plc (LSE:RFX) surged more than 30% on Tuesday after the company agreed to a recommended cash takeover by U.S.-based pawnbroking group FirstCash Holdings (NASDAQ:FCFS).
The acquisition will be carried out through FirstCash’s UK subsidiary, Chess Bidco Limited, with Ramsdens shareholders set to receive 600 pence in cash for each share they own.
The offer values the UK pawnbroker at approximately £206 million, including an interim dividend, and sent the shares to a new all-time intraday high of 600 pence.
The stock has now gained roughly 60% since the beginning of the year.
Shareholders to Receive Cash Offer and Interim Dividend
Under the terms of the agreement, Ramsdens investors will receive a cash payment of 600 pence per share.
In addition, shareholders will be entitled to an interim dividend of up to 9 pence per share, scheduled for payment on 9 October.
Based on exchange rates at the close of trading on 22 June, the transaction carries a total equity value of approximately £206 million, equivalent to around $273 million.
The acquisition has received unanimous support from the boards of both companies.
Deal Expands FirstCash’s UK Presence
Ramsdens operates a network of 174 pawnbroking branches across England, Scotland and Wales.
The acquisition significantly strengthens FirstCash’s position in the UK market and follows its earlier purchase of H&T.
Together, the combined businesses will operate nearly 470 locations across the UK, with management noting there is limited overlap between the two store networks.
Following completion of the transaction, FirstCash expects to operate more than 3,500 pawn stores globally.
Management Highlights Strategic Benefits
Rick Wessel, Chief Executive Officer and Vice-Chairman of FirstCash, said: “We are excited to add Ramsdens as part of the global FirstCash family. Ramsdens is a well-respected operator with a proven track record of operating successfully in the U.K. pawn market.”
The company believes the acquisition will enhance its international footprint while adding an established and profitable business with a strong market position.
Ramsdens Reflects on Growth Since IPO
Ramsdens Chief Executive Peter Kenyon welcomed the agreement and highlighted the company’s progress since becoming a listed business.
He said: “I am exceptionally proud of Ramsdens’ transformational growth since our IPO in 2017. FirstCash is an internationally established sector leader, and I share their confidence and conviction in the outlook for Ramsdens.”
Management believes the transaction provides shareholders with an attractive opportunity to realise value while positioning the business for its next phase of development under new ownership.
Strong Financial Performance Supports Acquisition
For the twelve months ended 31 March 2026, Ramsdens reported revenue of approximately $200 million.
During the period, the company generated net income of $26 million and adjusted EBITDA of $40 million, based on IFRS reporting standards and an average GBP/USD exchange rate of 1.34.
The financial performance reflects continued growth across the group’s pawnbroking, jewellery retail and foreign exchange operations.
Transaction Awaits Shareholder and Regulatory Approval
The acquisition remains subject to approval by Ramsdens shareholders as well as customary regulatory clearances in the UK.
If approved, the deal will create one of the largest pawnbroking networks in the British market while further expanding FirstCash’s international operations.
Management from both companies expressed confidence that the strategic combination will strengthen the business and create opportunities for future growth.
More about Ramsdens
Ramsdens Holdings plc is a UK-based financial services and retail group operating through a nationwide network of pawnbroking stores.
The company provides secured lending, jewellery retail, precious metals purchasing and foreign exchange services across England, Scotland and Wales. Since listing on the London Stock Exchange in 2017, Ramsdens has expanded its branch network and diversified its service offering, establishing itself as one of the UK’s leading pawnbroking and alternative financial services providers.
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