announced that it has purchased low cost car rental company Ace Rental Cars.
The acquisition completed yesterday will see Ace operate under its existing
brand as an independent subsidiary.
Cars operates in Australia and New Zealand (New Zealand, in Auckland,
Wellington, Christchurch, Queenstown, Picton, Greymouth and Dunedin, and in
Queensland, Australia, at rental locations in Brisbane, the Gold Coast and the
Sunshine Coast.) and has been in operation for 25 years.
media release from Hertz Australia can be read below:
HERTZ ENTERS LOW COST MARKET IN
AUSTRALASIA BY ACQUIRING ACE RENTAL CARS
SYDNEY, Australia, 16 February,
2011 – Hertz has
entered the low cost car rental market in Australia and New Zealand by
acquiring Ace Rental Cars, the second largest discount car rental company in
acquisition was finalised yesterday, New Zealand time, and announced today by Mark
P. Frissora, Chairman and Chief Executive Officer of Hertz. Ace will continue to operate under its
existing brand as an independent subsidiary.
25 years ago, Ace has a fleet of good quality vehicles throughout New Zealand,
in Auckland, Wellington, Christchurch, Queenstown, Picton, Greymouth and
Dunedin, and in Queensland, Australia, at rental locations in Brisbane, the
Gold Coast and the Sunshine Coast.
Hertz is a
growing provider in the low cost car rental market, with value brand operations
in the USA, Europe, Mexico, South America and the Caribbean through its wholly
owned discount car rental company, Advantage.
of Ace Car Rentals is a natural progression of Hertz’ value brand strategy in
the Australasian market, where tourism is a major contributor to the national
Mr Frissora confirmed
that Ace would continue its operations as a “super
economy car rental provider,” operating in parallel with Hertz and
Advantage. The Chief Executive of Ace, Mike Chatterley – whose father
co-founded the company – will remain in his current role.
“At the price-conscious end of
the value brand market, Ace will make an excellent addition to the Hertz family
of brands, and will allow us to capture a significant share of New Zealand’s
growing leisure sector,” said Mr Frissora.
“We also look forward to rapid
expansion of Ace in Australia, using Ace’s value brand expertise and Hertz
capital and local resources,” he added.
to entering the domestic low cost rental markets in Australia and New Zealand,
the acquisition of Ace Rental Cars enables the Hertz group to compete for the
business of budget international travellers visiting the Australasian region.
“Ace appeals to a broad range of tourists,
especially independent travellers. We recognise the expertise and success of
the Ace team in their segment, who will continue to operate independently,” said Mr Frissora.
“The many strong attractions of
Ace include its highly-reputable management team, first class attention to customers,
advanced web-based sales platform and an efficient cost structure based on
strong operating and information systems,” he said.
Hertz is the
largest worldwide airport general use car rental brand, operating from more
than 8,500 locations in 146 countries.
Hertz business in Australia and New Zealand will continue to operate as a full
service company, with more than 200 locations in Australia, over 40 in New
Zealand and a significant corporate customer base.