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Dollar Store Merchandise was Last modified: May 05, 2017;
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Dollar Financial Corp (DLLR.O: Quote, Profile, Research) said it agreed to acquire 82 financial services stores in southeast Florida for about $100 million.

"This acquisition will substantially increase our presence in Florida, which has a favorable regulatory framework, attractive demographics and a rapidly growing service sector workforce," Dollar Financial's Chief Executive Jeff Weiss said.

In November 2006, Dollar Financial had acquired 23 financial services stores in southwest Florida for $28.6 million.

The financial services company said it expects the transaction to add to its earnings by 19 cents to 22 cents a share for the 12 months following completion of the acquisition.

Total annual revenue from these stores for the 12 months will be about $45.0 million, the Berwyn, Pennsylvania-based company said in a statement.

Dollar Financial plans to fund the acquisition through a portion of the proceeds from its recent $200 million senior convertible note offering. (Reporting by Manish Gupta, Sweta Singh in Bangalore)
 

 

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Last modified: May 05, 2017