Avis Budget Group Inc. has announced the completion of a transaction that will allow the company to operate the Budget brand in Poland directly and to expand its presence in the Polish market.
Prior to the transaction, the Budget brand had been operated in Poland by a third-party licensee since 1990. Avis Budget had previously acquired its Avis licensee in Poland in November 2015.
The transaction affirms Avis Budget Group's commitment to the Central European markets, further increasing its ability to serve commercial and leisure customers there, according to the company.
The transaction will add more than 300 vehicles to the Avis Budget fleet and seven airport rental locations, including Warsaw, Krakow, and Gdansk.
"We're excited to announce this transaction,” said Mark Servodidio, president, International, Avis Budget Group. “Managing both the Avis and Budget operations in Poland will enable us to drive synergies in the business as well as accelerate the enhancements to the customer experience that our licensee partner has supported for a number of years."
Terms of the transaction were not disclosed.