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Jewelry Dealer Looks to Buy 27-Store Pawnshop Chain

Published

7 years ago

July 11, 2017

INSTORE Staff

It signed a letter of intent.

DALLAS — DGSE Companies Inc. is looking to buy National Pawn Inc., a chain with 27 stores across Arizona, North Carolina, Oklahoma and Texas.

DGSE (NYSE MKT: DGSE) said in a press release that it has has entered into a non-binding letter of intent to acquire the equity interests in National Pawn and its affiliates.

If a definitive agreement is reached, the acquisition would be expected to close in the third quarter of 2017. Austin, TX-based National was founded in 1993 by its current CEO, Courtland (Corky) L. Logue Jr. Logue has a long history of founding and operating pawnshops, including EZPAWN and EZCORP (NASDAQ: EZPW).

DGSE is a wholesaler and retailer of jewelry, diamonds, fine watches and precious metal bullion and rare coin products.

“We continue to explore new opportunities and agreements with potential partners who are excited about being a part of DGSE’s future,” said John Loftus, DGSE’s president, chairman and CEO. “We believe this positions DGSE to generate an attractive, total shareholder return over the long term.”

Looking for a Seamless Sale? Call Wilkerson

After almost 60 years in business, Breakiron Jewelers in Erie, Pennsylvania, was closing its doors. And the store’s owner, Linda Breakiron, was ready for it. She had run the store as its sole owner since the beginning of the millennium and was looking forward to a change. Of course, she called Wilkerson. Breakiron talked to other jewelers who had used Wilkerson and was satisfied with their response. “They always had positive feedback,” she recalls. With the sales, marketing and even additional inventory that Wilkerson provided, Breakiron insists she could never have accomplished her going-out-of-business sale without Wilkerson’s help. She’s now ready for the journey ahead, but looking back, she’d be sure to recommend Wilkerson. “They just made the whole process very seamless.”