Avis Budget Group
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An Avis Budget Group location in Toronto | |
Type | Public |
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Industry | Rental and leasing services |
Predecessor | Cendant |
Founded | 2006 |
Founder | Henry Silverman, Warren Avis, Julius Lederer |
Headquarters | Parsippany, New Jersey , United States |
Number of locations | 11,000[1] (2019) |
Areas served | 180 countries |
Key people | Bernardo Hees (Executive Chairman) Joe Ferraro (President and CEO) |
Services | Car and truck rentals |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 30,000[1] (2019) |
Website | www |
Footnotes / references [1] |
Avis Budget Group, Inc. is the American parent company of Avis Car Rental,[2] Budget Car Rental,[3] Budget Truck Rental, and Zipcar,[4] consisting of its global brands.[5] Its local brands include: Payless Car Rental, Apex Car Rentals,[6] Maggiore Group,[7] and France Cars.[5] Its network brands include: AmicoBlue, MoriniRent, TurisCar, TurisPrime, and ACL Hire.[5] The company is a Delaware Corporation headquartered in Parsippany, New Jersey, United States.
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.[8]
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.[9]
On 14 March 2013, Avis Budget Group purchased Zipcar for about US$500 million in cash. Zipcar now operates as a subsidiary of Avis Budget Group. Scott Griffith, who had run the company for the previous 10 years, resigned the day after the acquisition closed, and passed the reins to a new company President, Mark Norman.[10]
On April 9, 2015, Avis Budget Group announced it had completed the acquisition of , Italy's fourth-largest vehicle rental company.[11]
References[]
- ^ a b c d e f g h i "SEC Filings: 10-K 2019". Avis Budget Group. 20 February 2020. Retrieved 7 September 2020.
- ^ Christian Stoyanov. "Avis Budget Group: A Time For Transformation". Seeking Alpha. Retrieved 30 April 2019.
- ^ "Cendant cutting hotels, strikes deal for Budget". Chicago Tribune. Retrieved 30 April 2019.
- ^ "Avis Budget to buy Zipcar for $500 mln". Reuters. 2 January 2013. Retrieved 2 January 2013.
- ^ a b c "Brands". Avis Budget Group. Retrieved 7 September 2020.
- ^ "Avis Budget Group Enters Agreement to Acquire Apex Car Rentals of New Zealand". Auto Rental News. Retrieved 30 April 2019.
- ^ Chelsey Dulaney. "Avis Budget to Buy Italy's Maggiore Group for $170 Million". Wall Street Journal. Retrieved 30 April 2019.
- ^ "Cendant to become Avis. Budget". Pacific Business News. August 29, 2006. Retrieved 18 August 2012.
- ^ "Archived copy". Archived from the original on 2015-05-18. Retrieved 2015-05-09.CS1 maint: archived copy as title (link)
- ^ Rebecca Greenfield (2013-03-15). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". theatlanticwire.com. Archived from the original on 2013-03-21. Retrieved 2014-03-01.
- ^ Emily Bader (9 April 2015). "Avis completes $160M acquisition of Italian vehicle rental business". NJBIZ.
External links[]
- Official website
- Business data for Avis Budget Group:
- Avis Budget Group
- American companies established in 2006
- Car rental companies of the United States
- Companies based in Morris County, New Jersey
- Companies listed on the Nasdaq
- Companies in the Dow Jones Transportation Average
- Corporate spin-offs
- Franchises
- Holding companies established in 2006
- Holding companies of the United States
- Parsippany-Troy Hills, New Jersey
- Retail companies established in 2006
- Transport companies established in 2006