Dollar Financial Corp (DLLR.O: Quote, Profile, Research) said it agreed to
acquire 82 financial services stores in southeast Florida for about $100
"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)