Avis Budget Group

Avis Budget Group is American car rental agency holding company headquartered in Parsippany, New Jersey. It is the parent company of several brands including Avis Car Rental,[3] Budget Rent a Car,[4] Budget Truck Rental, Payless Car Rental and Zipcar.[5]

Avis Budget Group, Inc.
TypePublic company
IndustryRental and leasing services
PredecessorCendant
Founded2006 (2006)
Founders
Headquarters
Parsippany, New Jersey
,
United States
Number of locations
11,000 (2019)
Areas served
Worldwide
Key people
ServicesCar and truck rentals
RevenueIncrease US$9.172 billion (2019)
Increase US$788 million (2019)
Increase US$302 million (2019)
Total assetsIncrease US$23.126 billion (2019)
Total equityIncrease US$656 million (2019)
Number of employees
20,000 (2019)
Subsidiaries
Websiteavisbudgetgroup.com
Footnotes / references
[1][2]

The company also operates several smaller, regional brands including ACL Hire, Apex Car Rentals,[6] AmicoBlue, France Cars, Maggiore Group,[7] MoriniRent, TurisCar and TurisPrime.[5]

It is one of the three big rental car holding companies in the United States. In 2021 it held a 26% market share, placing it behind both the Hertz Global Holdings and Enterprise Holdings.[8]

History

Following the decision to dissolve the Cendant company name and split into four separate companies, the vehicle rental division of Cendant became Avis Budget Group in 2006.[9]

In 2011, Avis Budget Group acquired Avis Europe, an independently owned company licensee, globally reuniting the Avis and Budget brands.[1]

On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand.[10]

On March 14, 2013, Avis Budget Group purchased carsharing company Zipcar for about US$500 million in cash.[11][12]

On April 9, 2015, Avis Budget Group announced it had completed the acquisition of Maggiore Group, Italy's fourth-largest vehicle rental company.[13]

References
  1. "SEC Filings: 10-K 2019". Avis Budget Group. 20 February 2020. Retrieved 7 September 2020.
  2. Avis Budget Group SEC 10-K filing for fiscal year 31 December 2020,
  3. Christian Stoyanov. "Avis Budget Group: A Time For Transformation". Seeking Alpha. Retrieved 30 April 2019.
  4. "Cendant cutting hotels, strikes deal for Budget". Chicago Tribune. Retrieved 30 April 2019.
  5. "Brands". Avis Budget Group. Retrieved 7 September 2020.
  6. "Avis Budget Group Enters Agreement to Acquire Apex Car Rentals of New Zealand". Auto Rental News. Retrieved 30 April 2019.
  7. Chelsey Dulaney. "Avis Budget to Buy Italy's Maggiore Group for $170 Million". Wall Street Journal. Retrieved 30 April 2019.
  8. "How Consolidation in the Car Rental Industry Is Likely to Overhaul Ground Transportation". GEP. Retrieved 2021-06-23.
  9. "Cendant to become Avis. Budget". Pacific Business News. August 29, 2006. Retrieved 18 August 2012.
  10. "Avis Budget Group to Acquire Apex Car Rentals - Quick Facts". Archived from the original on 2015-05-18. Retrieved 2015-05-09.
  11. "Avis Budget to buy Zipcar for $500 mln". Reuters. 2 January 2013. Retrieved 2 January 2013.
  12. Rebecca Greenfield (2013-03-15). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". The Atlantic. Archived from the original on 2013-03-21. Retrieved 2022-01-20.
  13. Emily Bader (9 April 2015). "Avis completes $160M acquisition of Italian vehicle rental business". NJBIZ.
  • Official website
  • Business data for Avis Budget Group, Inc.:
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.