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The company made its first public stock offering in 1987. [4] Team Rental Group purchased the public company in 1997 and took the name Budget Group. In 2002, Budget filed for bankruptcy and was later sold to the Cendant Corporation, which also owned Avis. [5] In September 2006, Cendant Corporation separated into four independent companies.
On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand. [11] On March 14, 2013, Avis Budget Group purchased carsharing company Zipcar for about US$500 million in cash. [12] [13] On April 9, 2015, Avis Budget Group announced it had completed the acquisition of Maggiore Group, Italy's fourth-largest vehicle rental ...
The company was founded in 1946 with three cars at Willow Run Airport, [10] Ypsilanti, Michigan, by Warren Avis (August 4, 1915 – April 24, 2007). [8] It established branch operations across the United States over the next few years, becoming the second largest car rental company in the country by 1953.
Hotel Arthur, also commonly known as the Traction Terminal Building, is a historic, six-story building in Aurora, Illinois. It was originally designed as a hotel to service travelers on the Fox River. The Aurora, Elgin and Chicago Railroad relocated their headquarters here in 1915, and the building became the final station on the Aurora branch.
A car rental, hire car or car hire agency is a company that rents automobiles for short periods of time to the public, generally ranging from a few hours to a few weeks. It is often organized with numerous local branches (which allow a user to return a vehicle to a different location), and primarily located near airports or busy city areas and ...
In November 2002 Budget sold its truck and car businesses to Cherokee Acquisition Corporation, which is owned by Cendant Corporation. [5] In September 2006 Budget Rent a Car, Avis Rent a Car, and Budget Truck Rental were spun off by Cendant as a separate company, Avis Budget Group. In 2007, its headquarters was transferred to Morris County, New ...
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