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Dollar Financial acquires 23 Florida payday loan stores
November 17, 2006 - Berwyn, Pennsylvania
Dollar Financial Corp expanded its Florida operations by acquiring 23 financial services stores this month, predominantly located in Southwest Florida. Dollar has not released the name of the acquired locations, but said the total purchase price for the acquisition was $28.6 million. The incremental revenue for the acquired stores for the twelve months following the acquisition is estimated to be $10.5 million. Jeff Weiss, the Company's Chairman and Chief Executive Officer stated, "This acquisition serves to initiate the expansion of our financial services store network into the State of Florida. Florida has a favorable regulatory framework, attractive demographics, and a growing services sector workforce. We are pleased to add a base of solid performing stores that have been well managed and physically maintained and are expected to contribute immediately to the earnings of the Company."
News Source
RTO Online, Staff Writer
Dollar Financial Group Inc. (NASDAQ: DLLR)
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