Hotels, Lodging, Restaurants & Travel M&A » By The Online Investor Staff, updated Fri., Apr. 26, 7:20 AM
Recent mergers and acquisitions in the Hotels, Lodging, Restaurants & Travel M&A category.
Slide #33. Avis Budget Group, Inc. — Payless Car Rental
Acquirer: |
Avis Budget Group, Inc. (NASDAQ:CAR) |
Acquiree: |
Payless Car Rental |
Details: |
Avis Budget Group, Inc. (Nasdaq:CAR) announced today that it has acquired Payless Car Rental, the sixth largest car rental company in North America, for approximately $50 million in cash. The addition of the Payless brand will give Avis Budget Group a strong position in the fast-growing deep-value segment of the car rental industry. |
Avis Budget Group is a provider of mobility solutions through its three brands, Avis, Budget and Zipcar, together with several other brands. Co.'s segments are: Americas, which provides and licenses its brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets; and International, which provides and licenses its brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia and Australasia, and operates its car sharing business in certain of these markets.
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April 26, 2024 7:20 AM Eastern
Strong Buy (3.50 out of 4)
59th percentile
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