Avis Budget Acquires Licensee in Canada for $30 Million

Seeking to expand its company-operated locations in Canada, Avis Budget Group acquired its Budget Car & Truck Rental licensee in Edmonton, Alberta, for $30 million plus the costs of purchasing the fleet in 26 locations in seven cities.

The licensee had operated in Edmonton, a center of oil, gas and petrochemical operations, for more than half a century.

"Expanding our global footprint and enhancing our customer experience are two of our key strategic growth initiatives," said Ronald Nelson, Avis Budget Group CEO.

From 2005 to 2012, Avis Budget Group acquired fourth other licensees in Canada.