PARIS--(BUSINESS WIRE)--Regulatory News:
Europcar Mobility Group (Paris:EUCAR), the European leader in vehicle rental services and global provider of mobility solutions, announces the completion of its Finnish and Norwegian franchisees acquisition. Through these acquisitions, Europcar Mobility Group extends its corporate network from 18 to 20 countries in Europe and therefore strengthens its global footprint.
These acquisitions will enable Europcar Mobility Group to reinforce its leadership in Northern Europe and to build on the strong positions both businesses hold in their respective national markets:
- In Finland, Europcar is the undisputed market leader with a 31% market share and a network of 56 branches throughout the country. Characterized by its strong service culture, the business can rely on the growing tourist market in the country, along with a number of important infrastructure projects.
- In Norway, Europcar ranks third in the market and has returned to profitability thanks to the implementation of a successful turnaround plan. It expects strong top and bottom line growth, thanks to a combination of IT systems investments, station upgrades including a review of the domestic sub-franchisees and fleet management improvements.
The combined revenue of the two businesses was approximately €56m in 2018 with customer bases covering both leisure and corporate travellers.
These companies are acquired from Matti and Jussi Holopainen, who remain with the business.
“We are delighted to welcome our Finnish and Norwegian franchisees as our newest corporate countries. These acquisitions mark the next chapter of our growth and development in Northern Europe. They will enable us to achieve synergies and to consolidate our leadership position in our core European market. We look forward to working together with Jussi and Matti Holopainen and their teams; they will bring their entrepreneurial spirit while benefiting from our Group’s assets and expertise, in order to develop new and innovative mobility solutions profiled to meet all our customers’ needs.” - Olivier Baldassari, Chief Countries and Operations Officer of Europcar Mobility Group.
About Europcar Mobility Group
Europcar Mobility Group is a major player in mobility markets and listed on Euronext Paris. The mission of Europcar Mobility Group is to be the preferred “Mobility Service Company” by offering alternative attractive solutions to vehicle ownership, with a wide range of mobility-related services: vehicle-rental, chauffeur services, car-sharing, scooter-sharing and peer-to-peer car-rental. Customers’ satisfaction is at the heart of the Group’s mission and all of its employees and this commitment fuels the continuous development of new services. Europcar Mobility Group operates through multi brands meeting every customer specific needs; its 4 major brands being: Europcar® - the European leader in vehicle rental services, Goldcar® - the most important low-cost car-rental company in Europe, InterRent® – ‘mid-tier’ brand focused on leisure and Ubeeqo® – one of the European leaders in car-sharing (BtoB, BtoC). Europcar Mobility Group delivers its mobility solutions worldwide solutions through an extensive network in 137 countries (including 20 wholly owned subsidiaries in Europe, 2 in Australia and New Zealand, franchises and partners).
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