Avis Budget Group acquires Turiscar Group

Avis Budget Group, Inc. (NASDAQ: CAR), a leading mobility solutions provider, 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 a 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.”

The acquisition closed 3rd October 2018. Turiscar Group employees will now work under the leadership of Gianluca Testa, Managing Director of the Southern Region, Avis Budget Group. Terms of the transaction were not disclosed.