Shares of Ramsdens Holdings plc surged more than 30% on Tuesday after FirstCash Holdings, Inc. agreed to acquire the British pawnbroker for approximately £206 million ($273 million) in cash. Ramsdens stock hit an all-time intraday high of 600 pence, extending its year-to-date gain to about 60%.
Deal Details
Under the agreement, FirstCash will pay 600 pence in cash for each Ramsdens share through its UK subsidiary, Chess Bidco Limited. Ramsdens shareholders will also receive an interim cash dividend of up to 9 pence per share, payable on October 9. The total equity value of £206 million includes both the cash consideration and the interim dividend, based on the exchange rate as of June 22.
Ramsdens operates 174 pawn locations across England, Scotland and Wales. The acquisition expands FirstCash's UK footprint, following its earlier purchase of H&T. The combined network will total almost 470 stores with limited location overlap between the two chains. Upon closing, FirstCash expects to operate over 3,500 pawn locations worldwide.
Strategic Rationale
Rick Wessel, CEO 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." Peter Kenyon, CEO of Ramsdens, added: "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."
For the trailing twelve months ended March 31, 2026, Ramsdens reported revenue of $200 million, net income of $26 million and adjusted EBITDA of $40 million, on an IFRS basis using a GBP/USD average exchange rate of 1.34. The acquisition has been unanimously approved by both companies' boards and is subject to Ramsdens shareholder approval and customary UK regulatory clearances.