June 11, 2010 (FinancialWire) — EZCorp, Inc. (NASDAQ: EZPW) said it has completed the acquisition of eight pawn stores located in Central and South Florida.  The stores, which have been operated under various brand names, were purchased for cash from Legacy Equity Fund, Inc.  

The company currently expects to operate the stores under the "Value Pawn" brand.

Eric Fosse, President of the company's Pawn Americas division, said, "Florida is our second-largest state in terms of pawn presence, and the addition of these eight stores gives us a total of 85 pawn locations in Florida.”

Texas-based EZCorp is a pawn store operator and provider of specialty consumer financial services. The company provides collateralized non-recourse loans, commonly known as pawn loans, and a variety of short-term consumer loans, including payday loans, installment loans and auto title loans, or fee-based credit services to customers seeking loans. At its pawn stores, the company also sells second-hand merchandise, primarily collateral forfeited from its pawn lending operations.

At March 31, 2010, EZCorp operated 450 pawn stores in the U.S. and Mexico and 482 short-term consumer loan stores in the U.S. and Canada. The company also has investments in Albemarle & Bond Holdings PLC, one of the U.K.'s largest pawnbroking businesses with over 120 stores, and Cash Converters International, which franchises and operates a worldwide network of over 500 financial services and second-hand retail stores.

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