Cash Converters buys up rest of its NZ master franchisor

Fri, 21 Oct 2022

Cash Converters International has bought the remaining shares in its New Zealand master franchisor for $15.5 million.The company, which is listed on the Australian stock exchange (ASX) holds a 25% equity interest in all aspects of the New Zealand business and will acquire the remaining 75%.The Companies Office said the majority stake is owned by Teamworks Project NZ LP. The purchase would be funded using the company’s available cash reserves, with the transaction priced relative to net assets and earnings accretive.Cash Converters ma...

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