Louisville, Ky. (January 16, 2013) – Gus Goldsmith today announced the sale of The Cash Store Inc. retail jewelry and pawnshop operation located in Fairfax, Va., to First Cash Financial Services Inc., a publicly traded specialty retailer. First Cash Financial Services paid $8 million for the entity on December 23, 2012.
The transaction total is one of the highest amounts ever paid for a pawnshop, according to Goldsmith, who previously sold his Dan’s Pawn Shop in the late 1990s for $5 million.
Goldsmith’s holdings span several states including Kentucky, Indiana, Maryland, District of Columbia, Virginia, and Florida. He focuses primarily on his mortgage-lending services.
“I am ecstatic to make history through this transaction and continue my streak of successful, profitable deals,” said Goldsmith. “My business acumen has served me well in my career involving pawnshops, the mortgage-lending business and real estate loans.”
Using the business motto “When the banks say no, Gus says yes,” Goldsmith has more than 45 years of experience in the pawn and lending industries and remains an active member of the Louisville community.
His parents Harriett and Dan Goldsmith introduced him to the business at the age of 12 and developed his strong work ethic at Dan’s Pawn Shop. Goldsmith also credits his parents for teaching him importance of giving back. His philanthropic efforts include support of The Center for Women and Families, the United Way, Kenneth Israel Synagogue, Bridgepoint Services-Goodwill, Wayside Christian Mission and Louisville’s Metro Parks.
Goldsmith said he is interested in selling his remaining pawnshop businesses and additional holdings in order to pursue other opportunities.