Enterprise Holdings Inc. has made a strategic investment in Unidas, amending its Master Franchise Agreement with the Brazilian car rental operator and fleet management company.
Unidas and Enterprise Holdings became franchise partners in 2012. For the past four years, Unidas has been operating National and Alamo locations in airport and city locations throughout Brazil.
Once the transaction is completed later this year, Enterprise Holdings will hold a 20% stake in Unidas and have a seat on the company’s board of directors. The transaction also extends Unidas’ Master Franchise Agreement until 2031, according to the company.
In addition, Enterprise Holdings’ entire portfolio of car rental brands will be offered throughout Brazil, including its flagship Enterprise Rent-A-Car brand.
“Both companies quickly learned that our fundamental values and strategic priorities are closely aligned, which makes our partnership that much more successful and meaningful,” said Peter A. Smith, vice president of global franchising at Enterprise Holdings. “We look forward to growing all three of our car rental brands throughout Brazil for many years to come.”
Unidas currently operates a total fleet of approximately 46,000 vehicles for both their rental and fleet management businesses, serving both leisure and business customers from 215 locations across Brazil, according to the company. That includes a corporate network of 94 branches in 48 cities, and a franchising network with 121 locations across 101 cities throughout the country.
“Our comprehensive partnership covers business development, knowledge transfer, and strategic planning, while enabling us to leverage the strength of Enterprise Holdings’ brands together with Unidas,” said Pedro de Almeida, CEO at Unidas. “We are proud and very happy that Enterprise is collaborating with us and investing in our future growth.”
Today, the Enterprise, National and Alamo brands operate in more than 85 countries, including 29 in Latin America.