Online travel company Expedia Inc. has purchased Auto Escape Group — a European online car rental reservation company — from private equity fund Montefiore Investment and members of the Auto Escape Group’s management team.
Upon closing of the agreement, Auto Escape Group will become part of Expedia’s CarRentals.com brand. Other Expedia brands include Hotwire, Egencia and Hotels.com.
“We are excited to expand our CarRentals.com brand internationally so that we can provide our customers more choices across the globe and help our supply partners expand their marketing reach,” said Henrik Kjellberg, president of the Hotwire Group.
According to Expedia, the deal is expected to close during the third quarter of 2014, pending receipt of regulatory approval.