Europcar to Buy Vanguard's European Rental Business

Europcar said on Monday it would buy the European business of Vanguard Car Rental Holdings LLC for 670 million euros ($862.4 million), bolstering its position as Europe's top car rental company, according to Reuters.

Europcar and Vanguard, which operates the National and Alamo brands in Britain, also sealed a transatlantic partnership that will give Europcar's clients access to Vanguard's network in North America, the statement said.

The deal, which values Vanguard EMEA at 12.7 times its estimated 2006 operating income, must be approved by competition authorities, Reuters reports.

Vanguard EMEA operates a fleet of 43,000 vehicles and had 2005 sales of 405 million euros with over 2 million rental contracts. It makes 84 percent of its revenue in Britain, where it is the market leader. It employs 32,000 people.

Europcar, with 2005 sales of 1.28 billion euros, a fleet of more than 200,000 vehicles and close to 7 million rental contracts, is Europe's leading car rental company.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Why GM’s Telematics Announcement is a Really Big Deal

Enabling a telematics connection at the factory — and not through an aftermarket hardware installation — is a game changer for fleets.

Four Thoughts From the 2016 Conference Calls

Sifting through the notes of Avis Budget Group’s and Hertz Global Holdings’ recent fourth quarter conference calls give us some trend lines to watch out for in 2017. (Of course, this gives us an incomplete snapshot, as Enterprise Holdings is privately held.)

Job Finder: Access Top Talent. Fill Key Positions.

>