Avis Budget Group Buys Maggiore Group in $170 Million Deal

Mar 05, 2015 921

One of the leading auto and van rental companies in North America, Avis Budget Group Inc., has agreed to purchase the Maggiore Group, one of largest vehicle rental companies in Italy. According to Chelsey Dulaney of The Wall Street Journal, the deal is worth $170 million.

In the report from Dulaney, the Avis Budget Group will be looking to, "launch a dual Budget-Maggiore brand, though the company will continue to rent vans under Maggiore's AmicoBlu brand."

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Source: http://www.travelpulse.com/

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