Avis Budget Group

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.

Avis Budget Group, Inc.
TypePublic
IndustryRental and leasing services
PredecessorCendant
Founded2006 (2006)
FounderHenry Silverman, Warren Avis, Julius Lederer
Headquarters
Parsippany, New Jersey
,
United States
Number of locations
11,000[1] (2019)
Areas served
180 countries
Key people
Joseph A. Ferraro, Interim President & CEO[1]
ServicesCar and truck rentals
Revenue US$9.172 billion (2019)[1]
US$788 million (2019)[1]
US$302 million (2019)[1]
Total assets US$23.126 billion (2019)[1]
Total equity US$656 million (2019)[1]
Number of employees
30,000[1] (2019)
Websitewww.avisbudgetgroup.com
Footnotes / references
[1]

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 Maggiore Group, Italy's fourth-largest vehicle rental company.[11]

References
  1. "SEC Filings: 10-K 2019". Avis Budget Group. 20 February 2020. Retrieved 7 September 2020.
  2. Christian Stoyanov. "Avis Budget Group: A Time For Transformation". Seeking Alpha. Retrieved 30 April 2019.
  3. "Cendant cutting hotels, strikes deal for Budget". Chicago Tribune. Retrieved 30 April 2019.
  4. "Avis Budget to buy Zipcar for $500 mln". Reuters. Retrieved 2 January 2013.
  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. "Cendant to become Avis. Budget". Pacific Business News. August 29, 2006. Retrieved 18 August 2012.
  9. "Archived copy". Archived from the original on 2015-05-18. Retrieved 2015-05-09.CS1 maint: archived copy as title (link)
  10. Rebecca Greenfield (2013-03-15). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". theatlanticwire.com.
  11. Emily Bader (9 April 2015). "Avis completes $160M acquisition of Italian vehicle rental business". NJBIZ.
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