Cash Converters International (ASX:CCV) completed its AU$37.1 million acquisition of 29 franchise stores across Queensland, New South Wales, the Australian Capital Territory, and Tasmania, expanding its group network, according to a Thursday filing with the Australian bourse.

The acquisition was financed using the company's cash reserves and funds from a recent equity raise, per the filing.

The acquisition enhances the company's East Coast presence, streamlines operations, and expands retail and lending cross-sell opportunities, while also increasing scale, efficiency, purchasing power, and loan-book funding, the filing said.

The company now operates 122 corporate stores in Australia, alongside 29 franchised stores, and in the UK runs 60 corporate and 135 franchised outlets, the filing added.