Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published August 2, 2010 at 10:39 AM | Page modified August 2, 2010 at 10:43 AM

Comments (0)     E-mail E-mail article      Print Print      Share Share

Pawn X-Change chain sold for $70 million

The owner of Washington's Pawn X-Change shops has been sold to a Texas company for $70 million, the two companies announced.

By Seattle Times business staff

The owner of Washington's Pawn X-Change shops has been sold to a Texas company for $70 million, the two companies announced.

Issaquah-based Maxit Financial, which owns 29 Pawn X-Change locations in this state and another 10 in Arizona under the Maxit name, will become part of Fort Worth-based Cash America International. Cash America already had 5 locations in Washington.

The price includes $12.5 million in shares of publicly traded Cash America, and the rest in cash.

In a June 2008 interview, Maxit Financial CEO Brad Shain said the chain expected revenues of $38 million for the year. Its revenues were approximately $54 million for the 12 months ended June 30, 2010, according to a statement from Cash America.

The Texas company has more than 1,000 locations nationally, some of them franchised.

E-mail E-mail article      Print Print      Share Share

More Business & Technology

UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case

UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip

UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award

UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall

NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook

More Business & Technology headlines...

Comments
No comments have been posted to this article.

advertising


Get home delivery today!

Video

Advertising

AP Video

Entertainment | Top Video | World | Offbeat Video | Sci-Tech

Marketplace

Advertising