US-based pawnbroker FirstCash has raised its offer for British high street chain Ramsdens to approximately £232 million on a fully diluted basis, following discussions with shareholders. The revised bid represents a 49% premium over Ramsdens' share price on June 22, the last trading day before the original offer was announced.
Revised offer details
FirstCash, which operates around 3,300 sites across the US, South America and the UK, intends to finance the acquisition through its US revolving credit facility. The deal will see Ramsdens delisted from the AIM market, nearly a decade after its debut on the London Stock Exchange.
Trading update and profit expectations
Separately, Ramsdens issued a trading update raising its full-year profit expectations. The Teesside-based firm now anticipates pre-tax profits between £33 million and £35 million, citing continued high gold prices—though down 20% from January's peak—and robust demand for pawnbroking loans. June was a record month for loan book growth, with the figure rising from £14.5 million in May 2026 to £15.5 million six weeks later.
Chief executive Peter Kenyon said: "The foundations of the group are strong. We are continuing to trade well, maximising the opportunity of trading with a favourably high gold price but knowing that our diversified financial services are all contributing to the Group's ongoing success."
Kenyon also highlighted the company's store expansion programme: "The investment in our new store opening program is going well. Hereford and Skegness have recently opened, Newark and Peterborough are in shop fit and we have completed the lease formalities in Corby and St Helens with shop fitting to start shortly."
Impact of World Cup on foreign exchange
Bosses noted that England and Scotland's World Cup run had helped boost the foreign exchange business, which, alongside jewellery sales, forms part of Ramsdens' diversified operations.
