CALGARY, ALBERTA -- (Marketwired) -- 06/04/13 -- FRANCHISE SERVICES OF NORTH AMERICA INC. (TSX VENTURE: FSN) ("FSNA" or the "Company") today announced that Advantage Rent a Car, the fourth largest car rental company in the U.S., has formed a worldwide partnership with Europcar, one of the largest global car rental companies.
This strategic alliance will allow Advantage to receive and service reservations for Europcar in the U.S. and will allow Europcar to receive and service reservations for Advantage at their locations globally. The agreement affords significant global expansion and brand awareness of the Advantage brand and allows further growth of the Europcar brand in the U.S.
Tom McDonnell, Chairman and CEO of FSNA, added, "This partnership is an extremely exciting opportunity for us. Advantage customers will now be able to reserve and rent cars globally. The transaction will transform our brand from the fourth largest car rental company in North America to a global provider of auto rental."
"We are delighted to partner with Advantage and make a strategic move for both our companies. We share the same values and client-oriented attitude. Both our teams are fully committed to deliver excellent customer service and innovative solutions. We will actively cooperate to share best practices, while developing together mobility projects," declared Roland Keppler, CEO of Europcar.
About Europcar Group
Europcar is the leading brand in mobility in Europe. Present in over 130 countries, the company provides customers with one of the largest rental networks through its own operators, franchisees and partnerships. Europcar Group's brand portfolio includes Europcar, InterRent, its low cost brand, and National and Alamo in the EMEA zone. The group puts customers at the heart of its mission whether it is innovation or service. All the employees of the company are committed to delivering customer satisfaction. Winner of the first World Travel Award recognizing the World's Leading Green Transport Solutions Company, Europcar also was honored with the Award in 2010, 2011 and 2012 and received for the first time in 2012 the "Europe's Responsible Tourism Award". Europcar is owned by Eurazeo, one of the leading listed investment companies in Europe.
FSNA is a publicly traded company listed on the TSX Venture Exchange. The Company and its subsidiaries own the following brands: Advantage Rent A Car ("Advantage"), U-Save Car & Truck Rental®, U-Save Car Sales, Rent-A-Wreck of Canada, PractiCar, Auto Rental Resource Center ("ARRC"), Xpress Rent A Car and Peakstone Financial Services.
Advantage is currently positioned as a brand, and targets consumers in the value-oriented segment of the U.S. rental car market. As of July 2013, Advantage is expected to operate from approximately 75 locations servicing airports and five additional satellite locations in hotels in Hawaii and Las Vegas and has a fleet of approximately 23,000 cars, ranging from economy cars to SUVs. Advantage primarily services the leisure segment of the rental car market and predominantly operates in key domestic leisure destinations, including California, Florida, Texas, Colorado, Hawaii and Arizona.
U-Save, together with its subsidiary ARRC, has over 1,100 locations throughout the United States and is one of North America's largest franchise car rental companies. Having primarily serviced the local market for the past 30 years, the Company is expanding into the airport market with plans for the opening of airport locations in the top 30 markets in the United States and the major airports in Canada. U-Save currently services 28 airport markets in 11 different states and 7 countries. U-Save Car Sales is an expansion of the U-Save brand into the car sales market, and provides goods and services to car sales operators looking to affiliate with a national brand.
Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the rights to the Rent-A-Wreck® and the PractiCar® trademarks for all of Canada. The Rent-A-Wreck® system operates a network of 69 franchise locations from coast-to-coast in Canada, providing a range of vehicle rental, leasing and sales options to its customers. The Rent-A-Wreck® system has been in continuous operation in Canada since 1976.
Certain statements made in this news release are forward-looking in nature, including statements made with respect to Advantage. The words "may", "could", "should", "would", "expect", "intend", "estimate", "anticipate", "believe", or "outlook" and similar expressions often identify forward-looking information. By their nature, forward-looking statements require FSNA to make assumptions and are subject to inherent risks and uncertainties. The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by FSNA. Although FSNA believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because FSNA can give no assurance that they will prove to be correct. FSNA's forward-looking statements are qualified in their entirety by these cautionary statements. In addition, the forward-looking statements are made only as of the date of this news release, and except as required by applicable law, FSNA undertakes no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information on FSNA or any of its operating
subsidiaries please contact:
Thomas P. McDonnell, III
Franchise Services of North America Inc.
For further information concerning Europcar please contact:
Raphaele Hamel / Nathalie Poujol
+33 (0)1 30 44 98 82
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