Enterprise Rent-A-Car acquires Germany’s CARO Autovermietung
Enterprise Rent-A-Car Germany is to acquire Bremen-based CARO Autovermietung GmbH, creating one of the largest car rental businesses in Germany.
The acquisition is subject to approval by the German Federal Cartel Office.
The agreement, for an undisclosed sum, will see the two companies integrated later this year to offer a combined 200-plus locations and a fleet of approximately 17,000 vehicles.
CARO Autovermietung founder Stefan Peters will remain in an advisory role with the business, and the rest of the CARO senior management team will remain in place.
Jim Strack, general manager and vice president, Enterprise Rent-A-Car Germany, said: “This acquisition is about growth and represents the next chapter of our success story in Germany, which has always been one of the most important markets in the world and plays a decisive role in our future plans for Europe.
“It will bring together the two best service providers to the insurance sector, so it’s great news for our customers who will also benefit from even better coverage through our extended branch network and additional fleet in Germany.”
The acquisition is subject to approval by the German Federal Cartel Office (Bundeskartellamt) and is expected to be closed in the coming weeks.
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Natalie Middleton
Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.
