Hertz Rent a Car has acquired two vehicle rental businesses as it looks to expand in central and eastern Europe.
Both companies have been Hertz franchises since the early 1990s - Rentex Autopujcovna in the Czech Republic and Rentex”s subsidiary, Car Solutions in Slovakia ” and the acquired businesses” estimated revenues are ”10m ($16m) for 2008.
The companies have ten locations in total across both countries ” including at the airports in the capitals, Prague and Bratislava - and all employees from Rentax and Car Solutions will transfer to Hertz.
”Central and Eastern Europe are developing and growing at a rapid pace, especially following the entry of many countries in the region to the EU over the last few years,” said Hertz Corporation chairman and chief executive, Mark P. Frissora.
”These acquisitions support our plans to develop corporate car and van rental businesses in this market.”
Hertz says it expects significant growth potential in both domestic and inbound travel due to strong economic development.
”We will look for opportunities to expand to other countries in this region,” said Hertz International president Michel Taride.