This acquisition will substantially increase our presence in Florida, which has a favorable regulatory framework, attractive demographics and a rapidly growing service sector workforce.
Jeff Weiss, Chairman and CEO, Dollar Financial Corp.

Dollar Financial Corp has acquired 82 payday loan and check cashing stores in Southeast Florida from CCS Financial Services, Inc. - "The Check Cashing Store" - for $100 million. According to Dollar Financial, the total annual revenue from these stores for the twelve months following the acquisition will be approximately $45.0 million. That works out to an acquisition multiple of approximately 26.6 times monthly revenue per location. A typical rent to own store will sell for between 7 and 10 times monthly revenue.

Jeff Weiss, Dollar's Chairman and CEO, said, "This acquisition will substantially increase our presence in Florida, which has a favorable regulatory framework, attractive demographics and a rapidly growing service sector workforce." Weiss added that this acquisition, along with the recent purchase of forty-five stores in the Midwest, underscores the company's strategy of improving profitability by "unlocking the value of our significant U.S. income tax NOLs."

By the numbers
82 stores
$100,000,000
$1,219,512 per store
Projected monthly revenue per store 45,731
Multiple paid: 26.66 times monthly revenue.

The Company said earnings per share accretion from the acquired stores for the twelve months following the acquisition is estimated to be between $0.19 and $0.22 per share.

Dollar Financial Corp operates 1,280 stores, including 902 company-operated financial services stores and 110 franchised We The People legal document processing locations in 30 states, the District of Columbia, Canada and the United Kingdom.