Ramsdens agrees to £203m takeover by FirstCash

Ramsdens has agreed a recommended takeover by U.S. pawnbroker FirstCash in a deal that values the AIM-listed British group at about £203m to £206m.

Shareholders are set to receive 609p a share, made up of 600p in cash and a 9p dividend. The offer represents a 35% premium to Ramsdens’ previous closing price.

The company said its board believes the proposal is fair and reasonable and gives investors an immediate cash return at a significant premium.

Ramsdens shares rose sharply after the announcement, with reports putting the jump at about 30% to 31%.

Deal terms

The difference between the reported £203m and £206m valuations appears to reflect whether the 9p dividend is included in the headline figure.

FirstCash is listed on Nasdaq and operates more than 3,300 pawn and consumer-lending locations across the U.S., Latin America and the UK.

The group entered the UK market last year with its acquisition of H&T for about £297m, and the Ramsdens deal would deepen that presence further.

For Ramsdens, the offer gives shareholders a cash exit at a premium and removes the company from AIM if the takeover completes.

Why it matters

Ramsdens would become the latest UK-listed company to leave the junior market if the deal goes through, reducing the number of quoted names on AIM.

The company is based in Stockton-on-Tees and operates 174 shops across England, Scotland and Wales. Its business spans pawnbroking, foreign exchange, precious metals buying and jewellery retail.

The timing also reflects a backdrop of strong earnings momentum and elevated gold prices, which have supported demand for pawnbroking and precious metals buying.

Ramsdens recently upgraded its full-year pretax profit guidance to between £30m and £33m.

What happens next

Completion is expected in the second half of 2026, subject to conditions and approvals.

The usual shareholder and procedural steps still need to be completed before the takeover can close.

Ramsdens floated on AIM in 2017 at 86p a share, meaning the current offer would crystallise a large gain for long-term investors if approved.

The deal also extends FirstCash’s strategy of building a larger UK footprint through acquisition, after its move for H&T and now Ramsdens.

Further detail from company circulars or filings may clarify the timetable, conditions and any additional disclosure on synergies or financing.