CCV.ASX: CCV Lloyds Funding and Acquisition of UK Franchise Stores

CCV Lloyds Funding and Acquisition of UK Franchise Stores

Stock	Cash Converters International (CCV.ASX)
Release Time	2 Jun 2025, 8:19 a.m.
Price Sensitive	Yes

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Cash Converters Secures Lloyds Funding, Acquires UK Stores

Key Points

Secures £12m growth funding facility from Lloyds Bank
Acquires 10 franchise stores in the UK, expanding corporate store network
Acquisition is earnings accretive and funded by the new Lloyds facility

Full Summary

Cash Converters International Limited (ASX: CCV) has announced the finalization of terms on a new £12m growth funding facility from Lloyds Bank. The company has also reached an agreement to acquire 10 Cash Converters franchise stores in the UK from a franchise partner operating a 19-store network in North West and Central England. The acquisition, valued at approximately £7.5m (AU$15.7m), is earnings accretive and will be the first to be funded by the new Lloyds facility. Following the settlement of this transaction, Cash Converters will have 58 corporate and 134 franchise-owned stores in the UK. Cash Converters CEO and Managing Director, Sam Budiselik, commented that the new Lloyds facility enables the company to accelerate its strategic ambition of acquiring franchise stores and continue growing the contribution of the UK business to the company's earnings. The partnership with Lloyds Bank is seen as a testament to the quality of Cash Converters' business, and the company looks forward to continuing to grow in the UK and Europe with Lloyds' support.