St. Louis -- Enterprise Rent-A-Car has agreed to acquire Vanguard Car Rental Group, whose brands include National and Alamo, in a move that will transform Enterprise into a major competitor in the airport-based car rental business.
Enterprise will increase its share of the airport car rental market in the United States from 7.6 percent to 27.3 percent, according to Brandweek Magazine. Hertz owns 28.7 percent of the market, while the Avis Budget Group claims 30.3 percent of market share from its Avis and Budget brands combined, according to the magazine.
Enterprise will apparently keep the three brands separate when the sale closes, expected in the latter half of the year.
"It's clear to us that the future belongs to the service providers who offer the broadest array of services for anyone who needs or wants to rent a car," Enterprise chief executive Andrew Taylor said last Friday in announcing the deal, terms of which were undisclosed. "Joining forces with National and Alamo will enable us to do just that."
National targets business travelers; Alamo, leisure travelers. Enterprise is the leader in off-airport car rentals, with more than 7,000 U.S. offices.
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