ESTERO, Fla., Aug. 31, 2017 /PRNewswire/ -- Hertz Global
Holdings, Inc., (NYSE: HTZ) has formally entered into a long-term
strategic partnership agreement with Localiza, South America's largest rental car company and
the market leader in Brazil,
following approval by the country's antitrust authority, CADE.
As part of the agreement, which was originally announced on
December 5, 2016, Hertz has now
completed the sale of its Brazil
car rental and leasing operations to Localiza.
Both companies have entered into referral and brand cooperation
agreements to govern their ongoing relationship. The alliance will
also involve the exchange of know-how in areas of technology,
customer service and operational excellence.
Under the referral and brand cooperation agreements, 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 most locations, providing them access
to a broader network of locations and a larger vehicle fleet than
previously offered by Hertz Brazil.
The purchase price for the Hertz Brazil operation, which
includes both car rental and vehicle leasing, closed at
R$360 million, subject to
post-closing adjustments concluding a financial audit.
"We are proud to partner with Localiza, with whom we share
similar values of innovation and customer excellence. This
agreement brings together two leading brands and an enhanced
product and service offering for our respective customers as they
travel the world," said Kathryn V.
Marinello, president and chief executive officer, Hertz.
"We are very motivated by the start of this long-term strategic
partnership that represents a new milestone for the development of
the sector. Customers from both companies will have innovative
services, attendance and solutions to facilitate their mobility and
improve their experience of car rental and vehicle leasing," says
Eugenio Mattar, CEO of Localiza.
About Hertz
The Hertz Corporation, a subsidiary of Hertz Global Holdings,
Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands
in approximately 9,700 corporate and franchisee locations
throughout North America,
Europe, The Caribbean, Latin
America, Africa, the
Middle East, Asia, Australia and New
Zealand. The Hertz Corporation 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, Ultimate
Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered
through the Adrenaline, Dream, Green and Prestige Collections set
Hertz apart from the competition. Additionally, The Hertz
Corporation owns the vehicle leasing and fleet management leader
Donlen Corporation, operates the Firefly vehicle rental brand and
Hertz 24/7 car sharing business in international markets and sells
vehicles through Hertz Car Sales. For more information about The
Hertz Corporation, visit: www.hertz.com.
About Localiza
Localiza is the largest car rental network in South America, with 579 branches in seven
countries and a fleet of more than 137,607 thousand cars. It is a
reference in excellent customer service and recognized by numerous
awards in its category.
Its ability to innovate puts it as the protagonist in the car
rental market in Brazil. Its more
than 6 million customers rely on car rental solutions and
cutting-edge products to have a superior experience. Highlight for
Localiza Fidelidade, which has distributed millions of free
daily rates and upgrades, the program offers more convenience,
agility and exclusive service; Localiza Way, a gadget which
offers GPS, wi-fi network, music viaSpotify and direct connection
with Customer Assistance; Localiza Express, self-service
that ensures more agility to the customers in the process of
picking up the cars in the agencies; Mobile checkout, which
makes it possible to close the contract, ensuring more agility and
simplicity to the process of returning the cars; App for
reservations, upgrades of cars, follow the route of the van, make
the opening of the contract using the "Cheguei", a
pre-service that allows the customer to streamline the process of
withdrawing the car even more; Localiza Prime, a group of
luxury cars such as the BMW 320i and Volvo S60 models; and
Localiza's latest launch, Localiza Fast, an unprecedented
technology in Latin America for
expedite removal of the vehicle without going through the
service desk: the customer only needs an application on the
cell phone to open the car door and in less than a minute leaves
driving the car.
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SOURCE Hertz Global Holdings, Inc.