Business & Tech
NJ.com: Parsippany-Based Avis Budget Deal Consolidates Car Rental Players
The merged entity would have combined sales of $7 billion.
Avis Budget has struck a billion-dollar deal to acquire Avis Europe Plc., the world's second-largest car-rental company. The move brings together two firms that were united until the 1980s and now gives the Parsippany company control of the London-based firm’s 3,100 branches and 950 Budget sites. Avis Europe operates in 112 countries in Europe, Africa, the Middle East and Asia. The acquisition comes as Avis Budget bids against Hertz Global Holdings Inc. for Dollar Thrifty, the third-biggest U.S. car-rental company.
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