Europcar Mobility Group has agreed to acquire Fox Rent A Car, one of the largest independent players in the US market.
The deal will be the “last” of a group of acquisitions begun three years ago, Europcar said.
It is hoped it will mark a milestone in the roll out of Shift 2023, the company’s strategic roadmap to reach €4 billion in revenues and a 15 million active customer base over the next four years.
Fox Rent A Car has a presence at 15 of the 25 key US airports.
For Caroline Parot, chief executive of Europcar Mobility Group, said: “The acquisition of Fox Rent A Car, one of the largest independent players in the US car rental market, is the last key step in our transformational mergers and acquisitions program, which enabled us to become a truly global mobility service company.
“Fox Rent A Car’s integration will be the platform for our future developments in the USA, giving us access to the largest car rental and mobility services market in the world.”
Fox Rent A Car operates a network of 21 corporate stations, with 100 or more affiliates, and is considered a value offering.
The company has a fleet of approximately 18,000 vehicles.
In 2018, Fox Rent A Car generated around $280 million in revenue.
Europcar Mobility Group…