Shares of Ramsdens Holdings plc jumped sharply on Tuesday after FirstCash Holdings, Inc. announced a recommended cash acquisition of the British pawnbroker. The offer provoked a more than 30% intraday rise, with Ramsdens' stock touching an all-time high of 600 pence and marking a year-to-date gain of as much as 60%.
FirstCash, described in the announcement as the leading international operator of more than 3,300 retail pawn stores, said the acquisition will be carried out by its U.K. unit, Chess Bidco Limited. Under the agreed terms, FirstCash will pay 600 pence in cash for each Ramsdens share. In addition, Ramsdens shareholders will receive an interim cash dividend of up to 9 pence per share, scheduled for payment on October 9.
The combined equity value, which includes the cash consideration and the interim dividend, is approximately a3206 million, or $273 million, using the exchange rate in effect at the close of business on June 22. Ramsdens currently operates 174 pawn locations across England, Scotland and Wales.
The acquisition follows FirstCash's earlier purchase of H&T and, together with that deal, creates what the companies described as a combined network approaching 470 stores in the U.K., with limited overlap between the two chains. FirstCash said that, upon closing of the Ramsdens transaction, it expects to operate more than 3,500 pawn locations worldwide.
FirstCash Chief Executive Officer and Vice-Chairman Rick Wessel commented on the transaction: "We are excited to add Ramsdens as part of the global FirstCash family. Ramsdens is a well-respected operator with a proven track record of operating successfully in the U.K. pawn market." Ramsdens Chief Executive Officer Peter Keynon said: "I am exceptionally proud of Ramsdens transformational growth since our IPO in 2017. FirstCash is an internationally established sector leader, and I share their confidence and conviction in the outlook for Ramsdens."
On a trailing twelve-month basis ended March 31, 2026, Ramsdens reported revenue of $200 million, net income of $26 million and adjusted EBITDA of $40 million. Those figures were presented on an IFRS basis using an average GBP/USD exchange rate of 1.34 for the period.
The boards of directors of both companies have unanimously approved the acquisition. The transaction remains subject to approval by Ramsdens shareholders and customary regulatory approvals in the United Kingdom.
Context and immediate market reaction
The buying announcement produced an immediate rally in Ramsdens' stock price, with the intraday high equaling the cash consideration per share. The offer structure includes a near-term cash dividend payment that modestly increases the total cash return to shareholders beyond the 600 pence per-share consideration.
Deal mechanics and scope
The acquisition will be executed through Chess Bidco Limited, FirstCash's U.K. vehicle. The companies have quantified the total equity value in both British pounds and U.S. dollars using the exchange rate prevailing at the close of business on June 22, and the boards of both firms have given unanimous backing to the transaction documentation.
Financial snapshot
Ramsdens' most recent twelve-month results to March 31, 2026, show $200 million in revenue, $26 million in net income and $40 million in adjusted EBITDA on an IFRS basis. FirstCash said the transaction will expand its U.K. footprint and add to its global store count.
As with all recommended transactions, completion hinges on shareholder consent at Ramsdens and the receipt of customary U.K. regulatory approvals. Until those conditions are fulfilled, the proposed deal will remain subject to potential change.