Cash America completes acquisition of 41 pawn lending locations

Cash America announced that it has completed the acquisition of a chain of 41 pawn lending locations in the State of Texas that operate primarily under the name of Top Dollar Pawn and were owned by TDP Superstores. Cash America previously announced that it had signed a definitive agreement in connection with the acquisition in June with the intention of completing the transaction before the end of September. Management expects that the acquisition will be immediately accretive to earnings, however, the incremental earnings from the additional operating locations will not materially affect its expectations, published July 25, for the final two quarters of FY13 which included the anticipated benefit of the acquisition. The aggregate purchase consideration for the Top Dollar Pawn acquisition was approximately $103M which was in line with the previously released expectations. The full amount of the consideration was paid in cash.