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Business Expansion: Dollar Financial Buys Canadian Stores

November 11, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Dollar Financial Corp (NASDAQ: DLLR) said that its wholly owned Canadian subsidiary, National Money Mart, has acquired nine franchise stores in the province of Alberta.

According to Dollar, the acquired stores will offer the full range of the company’s products and services, including short-term loans, check cashing, gold purchase, Western Union money transfer, foreign exchange, debit cards, and others.

Including this acquisition, National Money Mart will now operate a network of 412 company-operated stores nation-wide across Canada, with an additional 53 franchised stores remaining in the network as of November 10.

The purchase price of the acquisition is around C$13.0 million, and Dollar expects EBITDA for the nine acquired stores for the twelve months following the acquisition including transition costs is expected to be approximately C$3.0 million.

Pennsylvania-based Dollar Financial is a financial services company that, through its retail storefront locations as well as by other means, such as via the Internet, provides a range of consumer financial products and services in five countries (Canada, the United Kingdom, the United States, the Republic of Ireland and Poland) to consumers.

At September 30, the company’s global retail operations consisted of 1,193 locations, including 1,067 company-operated financial services stores and 126 franchised and agent locations, conducting business primarily under the names Money Mart, Money Shop, Loan Mart, Money Corner, Insta-Cheques and The Check Cashing Store in Canada, the United Kingdom, the United States, the Republic of Ireland, and Poland.

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