DFC buys pawnshop chain in Romania

DFC Global Corp. said it bought Express Credit, a 32-store pawnshop chain in Romania, marking the Berwyn company's entrance into that eastern European nation.

Express Credit had $9 million in revenue in the 12 months before the acquisition and is expected to immediately add to DFC's earnings, DFC said.

The deal represents DFC initial foray into pawn lending on items other than gold jewelry and fine watches. Express Credit also accepts small, high-value electronics and automobiles as collateral.

DFC already had European operations in Spain, Poland, Scandinavia, and the United Kingdom. The United Kingdom accounted for half of DFC's revenue in the quarter ended March 31. - Harold Brubaker