Avis Budget Group

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Avis Budget Group, Inc.
Company typePublic
Industry
PredecessorCendant
Founded2006; 18 years ago (2006)
Founders
Headquarters,
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]

Avis Budget Group, Inc. 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]

The company also operates several smaller, regional brands including ACL Hire, Apex Car Rentals,[6] AmicoBlu, 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[edit]

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[edit]

  1. ^ a b "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. ^ a b "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.

External links[edit]

  • Official website
  • Business data for Avis Budget Group, Inc.: