Avis Budget (CAR) Closes Deal To Extend Footprint In Poland
Zacks Investment Research | Apr 10, 2017 09:22PM ET
Vehicle rental & leasing services provider Avis Budget Group, Inc. (NASDAQ:CAR) recently completed a transaction for an undisclosed amount to extend its operations in Poland. The transaction will facilitate the company to operate its Budget brand in the Polish market, which is considered to be one of the strategic hotspots in Eastern Europe.
Avis Budget operated the Budget brand in Poland since 1990 through a third-party licensee. Subsequently, the company acquired this licensee in Nov 2015. With the latest transaction, Avis Budget will gain an unrivaled coverage across the country, supporting seven airport rental locations, including Warsaw, Krakow and Gdansk.
The deal will enable the company to better serve its customers in the region through the addition of over 300 vehicles to its fleet. Through strategic acquisitions and organic growth across the industry verticals, Avis Budget expects to continuously extend its global footprint as well as strengthen its position in the existing markets.
With such opportune transactions, Avis Budget intends to aggressively increase the number of company-operated locations in fast-growing markets. The company is particularly focused on expanding its Budget brand, taking its multi-brand strategy to the next level. We think that its fundamental drivers, such as sustained productivity growth, implementation of pricing initiatives and potential revenue-generating synergies from its various acquisitions bode well for the future.
Avis Budget outperformed the Zacks categorized Zacks Investment Research
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