FORT WORTH — Cash America International, a pawnshop operator and payday lender, said Monday that it will pay about $102.5 million to buy the 41-store Top Dollar Pawn chain in Texas from Waco-based TDP Superstores Corp.Daniel Feehan, Cash America president and CEO, said the acquisition will allow the company to expand more. Top Dollar Pawn has only pawn lending and related services, Cash America said. The deal should close in the third quarter.“This group of 41 stores allows us to grow our presence in many of the key markets in Texas where licensing restrictions exist,” Feehan said in a statement.Top Dollar Pawn has 15 Houston stores, 13 in Dallas-Fort Worth, five in San Antonio and eight in Central Texas. As of Dec. 31, it had about $14.6 million in pawn loan balances, Cash America said. Cash America has 828 locations in 22 states, including 257 in Texas. In addition to Cash America Pawn, it operates under the names SuperPawn, Cash America Payday Advance and Cashland, as well as 91 check-cashing centers called Mr. Payroll.It also has 47 lending locations in central and southern Mexico.
Sandra Baker, 817-390-7727 Twitter: @SandraBakerFWST