|April 28, 2008|
Europcar Acquires Its Asia-Pacific Master Franchisee
|Europcar, the European leader in passenger car and light utility vehicle rental, has entered into an agreement to acquire the Australian and New Zealand subsidiaries of ECA Car Rental, which operates its "Master Franchise" within the Asia-Pacific region. The acquisition gives Europcar direct operations in markets outside of Europe for the first time. |
Since 2005, ECA Car Rental has national coverage throughout Australia and New Zealand and oversees franchise operations for 28 other countries in Asia-Pacific. In addition to Australia and New Zealand, ECA Car Rental notably launched the Europcar brand in India, Pakistan, the Philippines and Thailand, with more launches planned this year.
To complete its network in the region, Europcar has developed specific relationships with local partners, entering the Japanese market in 2006 and China earlier this year.
With an average fleet of more than 7,000 vehicles in Australia and New Zealand, ECA Car Rental managed over 2 million rental days in 2007, generating AUD 123 million (€75 million) in revenues, an increase of 18% over 2006.
Salvatore Catania, Chief Executive Officer of Europcar Groupe, declared, "For Europcar, this is an important acquisition in several ways. It is a perfect opportunity to enhance our brand and expand a profitable business from a strong existing base. It also provides Europcar with direct access and in-house expertise in the Asia-Pacific region, which is the fastest-growing market in the car rental business."
In keeping with the company's strategy of expanding its global footprint through organic and external growth, this acquisition is the 5th for Europcar in the past two years. In 2007, the company integrated Vanguard's National and Alamo brand activities in Europe, the Middle East and Africa, and acquired Betacar, which serves the Canary and Balearic Islands. In 2006, Europcar strengthened its position in Belgium and Spain, respectively, through the acquisitions of Keddy and Ultramar.