Pfando announces extensive expansion
The Pfando Group has today announced plans to expand its network of branches in Germany to 50 locations by the end of 2024. Properties have already been leased in Osnabrück, Bochum, Chemnitz and Freiburg in the fourth quarter of 2023.
Managing Director Tobias Renkel said: “We are proud of the positive performance over the last few years and we look forward to achieving even greater customer proximity with a denser network of branches.” The Group reports that the capital expenditure for the expansion will be in the mid seven figures.
The decision to expand is in direct response to the stable performance and the constant rise in demand for products for short-term liquidity generation.
Pfando’s business model is based on innovative sale-and-rent-back agreements. Since the Group was founded in 2010, it has now grown to 30 locations and more than 100 employees throughout Germany, making it the absolute market leader.