EZ Pawn buys Pawn Plus stores

Pawn shop owner Craig McCall recently sold his 11 Pawn Plus stores in Las Vegas Valley to national giant EZ Pawn for $34.5 million, the law firm handling the sale reported.

Terms of the sale not only brought a solid price for McCall's highly profitable business, but included a five-year contract agreement for McCall to serve as consultant to the buyer, said Mary Drury, head of the transactional department at Marquis & Aurbach, which handled the transaction.

Also, he'll serve as landlord for eight of the locations.

McCall said selling the Pawn Plus stores was a quality-of-life decision. He wanted to reduce his workload to spend more time with his four young children.

Initially, McCall met with EZ Pawn executives to propose buying one of their stores. They in turn offered to buy all 11 of his stores.

"I wasn't looking to sell any of my stores because they were doing quite well, running counter to the rest of the economy," he said. "Then I started thinking about the offer and my kids, and it was an easy decision."

McCall still owns six pawn shops in Arizona and three in Oregon under the name USA Pawn & Jewelry.

He's in the process of opening two more stores in Oregon and another one in Arizona.

Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.