Cash Converters International Limited
(ASX:CCV) says it has finalised the acquisition of six franchised stores in Victoria for $10.8 million.
The second-hand goods retailer has bought the stores from an existing franchisee and will pay for the purchase with cash reserves and existing finance facilities.
Cash Converters says the acquisitions will take the number of corporate owned stores in Australia to 70 with 59 stories in the UK.
The company has also advised it continues to review opportunities to acquire stores and increase the distribution network for its financial services products.
Cash Converters posted a net profit of $21.13 million in the 2014 financial year.
