DTG to Acquire L.A., San Diego Thrifty Franchises

TULSA, Okla. -- Dollar Thrifty Automotive Group Inc. has reached an agreement to acquire the Thrifty Car Rental franchise operations in Los Angeles and San Diego. The sales are due to close Nov. 1.

The Thrifty Los Angeles operation is located in-terminal at Los Angeles International Airport, one of the busiest airports in the world. The Thrifty San Diego location services San Diego International Airport.

The two acquisitions add approximately 3,300 vehicles, on an annualized basis, to the company's corporate rental fleet. The terms of the transactions were not disclosed.

"With the acquisition of the Los Angeles and San Diego franchises, the company now operates both the Dollar and Thrifty brands corporately in the top California airports," said Jay Foley, senior executive vice president of corporate operations. "The added presence in Southern California, along with existing significant operations in Hawaii, Florida, Las Vegas and Phoenix, accents the strong leisure coverage for Dollar Thrifty."

Since announcing its corporate growth strategy to acquire locations in the top 75 U.S. airports from existing franchisees, DTG has acquired 35 key U.S. and Canadian markets. The company has also opened eight new Dollar or Thrifty locations, adding approximately 26,000 vehicles, on an annualized basis, to the company's rental fleet.

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