ESTERO, Fla., Dec. 5, 2016 /PRNewswire/ -- Hertz Global
Holdings, Inc. (NYSE: HTZ) has reached a long-term agreement with
Localiza, South America's largest
rental car company and the market leader in Brazil, to form a strategic partnership
encompassing co-branding in Brazil
and use of the Localiza brand in other select markets, customer
referrals and the exchange of technology and information. As
part of the agreement, which is subject to approval by the
Brazilian antitrust authority (Administrative Council for Economic
Defense or CADE), Localiza will purchase the Hertz operation in
Brazil.
Under the referral and brand cooperation aspects of the
agreement, Localiza customers traveling outside of South America will be referred to Hertz
reservation channels. In select markets, including the U.S., Hertz
expects to display the Localiza brand at key airport locations that
frequently serve visitors from Brazil. Similarly, Hertz customers traveling
to Brazil will be referred to
Localiza, with "Localiza Hertz" branding in many locations,
providing them access to a broader network of locations and a
larger vehicle fleet than currently offered by Hertz Brazil.
The purchase price for the Hertz Brazil operation, which
includes both rental car and vehicle leasing, is expected to be
R$337 million. The final purchase
price will be determined at the closing date. Both companies
will continue to operate independently until the agreement receives
anti-trust approval.
"This agreement enables us to partner with South America's largest rental car company,
extending the reach of the Hertz brand in Brazil and leveraging Localiza's customer base
when they travel outside of South
America. Additionally, Hertz customers traveling to
Brazil will have access to an
expanded service offering through Localiza's network," said
John Tague, Hertz Global Holdings
president and chief executive officer.
"We are proud to forge a partnership with Localiza, which has a
legacy of market leadership and a commitment to the same premium
service levels as our Hertz brand. We expect this partnership to be
a win-win for both companies."
"This partnership represents a milestone in the history of car
rental in Localiza and in Brazil.
Hertz is a widely recognized brand with a strong international
presence. We have many common qualities: business expertise,
excellence in service and innovation DNA," said Eugenio
Mattar, Localiza chief executive officer.
About Hertz Global
Hertz Global operates, through its operating company The Hertz
Corporation and its subsidiaries, the Hertz, Dollar and Thrifty
vehicle rental brands in approximately 10,000 corporate and
franchisee locations throughout North
America, Europe,
Latin America, Africa, the Middle
East, Asia, Australia, and New
Zealand. Hertz Global is one of the largest worldwide
airport general use vehicle rental companies, and the Hertz brand
is one of the most recognized in the world. Product and service
initiatives such as Hertz Gold Plus Rewards, Carfirmations, Mobile
Wi-Fi and unique vehicles offered through the Adrenaline, Dream,
Green and Prestige Collections set Hertz Global apart from the
competition. Additionally, Hertz Global owns the vehicle leasing
and fleet management leader Donlen Corporation, operates the Hertz
24/7 hourly vehicle rental business in international markets and
sells vehicles through its Rent2Buy program. For more information
about Hertz Global, visit: www.hertz.com.
About Localiza
Localiza is the largest car rental network in South America, with 564 locations in 7
countries and a fleet of 136,202 cars. It is a reference in
customer service excellence and recognized by numerous awards in
its category. Its ability to innovate makes it a protagonist in the
car rental market in Brazil. More
than 6 million customers use its car rental solutions and its
cutting edge products to have a superior experience. Spotlight on
Localiza Fidelidade (loyalty program), which has already
distributed more than 1.3 million free rental days and also
upgrades, the program offers more convenience, agility and
exclusive service; Localiza Way, a gadget that offers GPS, wi-fi
network, music through Spotify and direct connection with Customer
Assistance; Localiza Express, self-service totem that guarantees
more agility to customers in the process of picking up the cars in
the branches; Mobile checkout, which makes it possible to close the
contract, guaranteeing more agility and simplicity to the process
of returning the cars; App designed for reservations, car upgrades,
follow the route of the van, open contracts through "I have
arrived" button, a pre-service that allows the customer to pick up
the car even faster; Localiza Prime, group of luxury cars, like the
models BMW 320i and Volvo S60; And the latest innovation of
Localiza, an unprecedented technology in Latin America to pick up of the car without
going through the service desk: the customer only needs a mobile
application to open the door of the car and in less than a minute
leaves by driving the car.
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SOURCE Hertz Global Holdings, Inc.