|March 18, 2004|
Budget South Africa Bought By The Bidvest Group
|Budget South Africa, a wholly-owned subsidiary of McCarthy Motor Holdings, has been bought by the Bidvest Group, South Africa's third largest industrial conglomerate. |
Robin Borton, regional director, Middle East and Africa at Budget Rent a Car said: "The purchase presents Budget South Africa with a wealth of potential benefits, given the size of Bidvest and the diversity of the companies within the group's portfolio.
"The purchase should act as a springboard for further rental growth. Budget South Africa has enjoyed sustained growth over the last three years. Last year, the number of rental days sold rose by 10.5%."
Budget Rent a Car is one of the top three global car and van rental systems. The Budget system, which operates under the same name worldwide, has more than 3,000 airport and local market locations in over 120 countries and territories. Budget has around 1,000 corporate-owned and franchised locations throughout Europe, the Middle East and Africa. In South Africa, Budget has 60 locations in the region including in Namibia, Botswana and Mozambique and operates a fleet of over 5,000 vehicles.