The Hertz Corp. and Emil Frey Group signed an agreement on Oct. 3 for Emil Frey Group to join Hertz's global franchising network and purchase the Hertz car rental business in Switzerland.
Hertz will provide Emil Frey Group the license to operate 30 locations under the Hertz brand name.
“Through our partnership, we will accelerate the growth of Hertz in Switzerland, as well further strengthen our worldwide franchising network,” said Michel Taride, president of Hertz International. The licensee agreement is part of the Hertz Corp.'s strategy to grow its business through partnerships with local operators. Hertz will utilize the local market for resources and commercial strategies.
“The car rental business will highly complement our car dealership, importing, distribution, leasing and banking businesses,” said Gerhard Schurmann, CEO of Emil Frey Group. “The Hertz brand will also enhance our relationship with our customers and enable us to offer them a wider range of services for their mobility needs.”
Emil Frey Group, which is a family-owned business that started in 1924 and operates automotive services in Switzerland, France, Germany, Hungary, Czech Republic and Poland, will benefit from Hertz's worldwide service infrastructure, technology investments, standards and expertise. The Emil Frey Group has 2,680 employees in Switzerland and its consolidated Swiss revenues for 2011 were more than $2 billion.