Avis Budget Group Inc. has completed the acquisition of its licensee in Poland, which operates the Avis Car Rental brand at more than 50 locations including in Gdansk, Krakow and Warsaw.
"Poland is a growing market for both business and leisure travelers, and this tuck-in transaction will further expand our footprint of directly operated territories in Europe," said Ronald L. Nelson, Avis Budget Group’s chairman and chief executive officer.
The acquisition price was approximately $25 million, plus the cost of acquired fleet. The acquired business is expected to add more than $20 million of annual revenue, according to Avis Budget.
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