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Hertz Global Holdings, Inc. (formerly The Hertz Corporation), known as Hertz, is an American car rental company based in Estero, Florida. The company operates its namesake Hertz brand, along with the brands Dollar Rent A Car , Firefly Car Rental and Thrifty Car Rental .
Thrifty Car Rental was established in 1958. [2] [3] The company completed an initial public offering (IPO) of common stock in 1987.It would grow in size by purchasing Ohio-based Snappy Car Rental for US$40,000,000 (equivalent to $98,319,463 in 2023) in May 1989.
The Hertz Corporation announced the company would purchase of Dollar Thrifty Automotive Group for US$2.3 billion (equivalent to $3 billion in 2023) on November 19, 2012. [ 17 ] As a result of the impact of the COVID-19 pandemic on tourism , on April 30, 2020, Hertz announced that it has missed lease payments on its fleet and was seeking support ...
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After spinning off, Herc Rentals has acquired a number of other companies, [29] including CBS Rentals, [30] All-Star Rents, [31] Dwight Crane, [32] Reliable Equipment, [33] All Reach, [34] and Champion Rentals. [35] It is currently one of the largest equipment rental companies in the world and operates in the United States and Canada. [3] [36]
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By April 2010, negotiations had led Hertz to an offer of US$1.27 billion, which was increased to US$1.5 billion, but was rejected a third time by Dollar Thrifty shareholders. [28] [29] In July 2011, Hertz's bid was increased to US$1.91 billion, competing against rival Avis Budget Group's offer of US$1.55 billion. [30]
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