FirstCash Holdings announced that it has reached an agreement to acquire Ramsdens Holdings, a leading pawn, retail, and financial services operator in the United Kingdom.
Under the terms of the recommended cash acquisition, FirstCash will acquire Ramsdens through its wholly owned U.K. subsidiary, Chess Bidco Limited. FirstCash will pay 600 pence in cash for each Ramsdens share. Ramsdens shareholders will also receive an interim cash dividend of up to 9 pence per share, payable on October 9, 2026.
The total equity value of the transaction, including the cash consideration and interim dividend, is approximately £206 million, or about $273 million based on the exchange rate as of the close of business on June 22, 2026.
Ramsdens operates 174 pawn locations across England, Scotland, and Wales. The acquisition expands FirstCash’s presence in the U.K. and adds scale to its existing operations following its acquisition of H&T. Combined, FirstCash’s U.K. platform will have almost 470 stores with limited overlap between the H&T and Ramsdens footprints.
FirstCash said the acquisition will further strengthen its position as the largest publicly traded pawn platform across the United States, Latin America, and the United Kingdom. Upon closing, the company expects to operate more than 3,500 pawn locations worldwide.
The Ramsdens platform is expected to benefit from FirstCash’s additional growth capital, which could support increased pawn lending activity, revenue growth across existing stores, and further geographic expansion in the U.K. FirstCash also said the transaction is expected to be accretive to EBITDA and earnings per share.
For the trailing 12 months ended March 31, 2026, Ramsdens generated revenue of $200 million, net income of $26 million, and adjusted EBITDA of $40 million.
The acquisition has been unanimously approved by the boards of both FirstCash and Ramsdens. The transaction remains subject to Ramsdens shareholder approval and customary regulatory approvals in the United Kingdom. It is expected to close by the end of 2026.
Jefferies is serving as exclusive financial advisor to FirstCash, while Gowling WLG and Alston & Bird are serving as legal counsel. Cavendish is serving as exclusive financial advisor to Ramsdens, and Addleshaw Goddard is serving as legal advisor.
KEY QUOTES:
“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. This transaction will not only provide immediate revenue and earnings accretion to FirstCash upon closing, but also enhances our long-term growth profile through continued expansion of its industry-leading brands and platform. FirstCash looks forward to working together with the Ramsdens team to drive further long-term value for all of our customers, employees and shareholders.”
Rick Wessel, Chief Executive Officer and Vice-Chairman of the Board of FirstCash
“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, which is underpinned by our diversified model and established reputation for consistently doing the right thing for our customers and our fantastic people.”
Peter Keynon, Chief Executive Officer of Ramsdens
