Avis Budget Group Acquires Turiscar Group

Avis Budget Group, Inc. (NASDAQ: CAR), a leading mobility solutions provider, has announced it has acquired Turiscar Group, a well-established, family-owned, car rental company in Portugal. The acquisition will see Avis Budget Group bring on board this leading organisation in Portugal with two distinct brands: Turiscar, a well-respected rental provider primarily in the corporate market, […]

Avis Budget Group, Inc. (NASDAQ: CAR), a leading mobility solutions provider, has announced it has acquired Turiscar Group, a well-established, family-owned, car rental company in Portugal. The acquisition will see Avis Budget Group bring on board this leading organisation in Portugal with two distinct brands: Turiscar, a well-respected rental provider primarily in the corporate market, including light commercial vehicles; and its sister brand Turisprime, focused on leisure and tourism business. The acquisition adds approximately 3,000 vehicles to Avis Budget Group’s network in Portugal and is a key step in strengthening its commitment to the local market.

Mark Servodidio, President, International, Avis Budget Group commented:

“We are delighted to announce our acquisition of Turiscar in Portugal and welcome its employees to the Group. The offerings of both brands not only extend our Portuguese network, but also increase our ability to address the needs of a wide range of customers.”

“Following the recent acquisitions of Morini in Italy and ACL in the UK, this acquisition marks another step in our international expansion strategy and demonstrates the pace and momentum in the region and we look forward to continuing this progress.”

The acquisition closed 3rd October 2018. The Environmental Due Diligence was conducted by EKI Environment & Water.

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