FSNA Completes More Hertz Concession Acquisitions
FSNA opened new rental locations at Pittsburgh International Airport and Hilo International as in-terminal operations, and has also moved pre-existing off-airport operations at Raleigh-Durham International Airport and Charlotte Douglas International Airport to in-terminal operations.
Franchise Services of North America (FSNA) announced March 18 that Adreca Holdings Corp., a subsidiary of Macquarie Capital, has completed one of the scheduled acquisitions of additional on-airport and off-airport concessions from Hertz Global Holdings.
The additional airport concessions are a result of the acquisition by Adreca of the Advantage Rent-A-Car brand from Hertz in December 2012.
As a result of the acquisition, Adreca opened new Advantage rental locations at Pittsburgh International Airport (PIT) and Hilo International (ITO) as in-terminal operations, and has also moved pre-existing off-airport operations at Raleigh-Durham International Airport (RDU) and Charlotte Douglas International Airport (CLT) to in-terminal operations.
Adreca's acquisition of the remaining additional airports and certain other divested assets from Hertz is expected to be completed by August 2013. Adreca will be Hertz's sole divestiture partner in conjunction with the dispositions required to be made by Hertz by the consent decree issued by the U.S. Federal Trade Commission, previously detailed in the Company's Nov. 20 announcement.
Related news: FSNA Reports 2012-2013 First Quarter Revenue
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