Avis Budget Group Inc. announced that it has completed its acquisition of Avis Europe PLC, according to an Oct. 3 press release. The combined company now has branded rental locations in approximately 175 countries.
"This transaction positions us well to capture incremental growth in global travel and will enable us to more effectively serve our customers worldwide," said Ronald L. Nelson, Avis Budget Group chairman and CEO.
Prior to the completion of the acquisition, Avis Europe had been an independently-owned licensee of Avis Budget Group, operating the Avis brand in Europe, the Middle East, Africa and Asia.
Since the merger, Avis Budget Group created three new operating regions- Middle East and Africa (EMEA), North America, and Latin America/ Australasia - that became effective on Oct. 3.
The company has also filled three new positions to oversee each division.
Larry D. De Shon was appointed president, EMEA; Thomas M. Gartland has been named president, North America - a region which will now include the company's U.S. and Canadian operations; and Patric Siniscalchi was named president, Latin America/Australasia, overseeing Avises and Budgets in the Caribbean, Central and South America, Australia and New Zealand.
Additionally, Avis Budget Group announced the appointment of Alun Cathcart to fill a newly created seat on the company's board of directors. Cathcart has been involved with Avis since 1980, and previously served as a CEO of Avis Europe.
Originally posted on Auto Rental News