- Europcar Group accelerates its penetration of the Vans & Trucks and low cost segments with the acquisition of Buchbinder
EUROPCAR Group has signed an agreement to acquire Buchbinder, one of Germany’s largest car rental companies.
Germany is Europcar Group’s largest player in terms of revenues. The acquisition of Buchbinder allows Europcar to significantly improve its penetration of the low cost segment and become the market leader in the local van and truck market.
Founded over 60 years ago, Buchbinder is a well-established company in Germany, with an extensive network of 152 stations of which 18 airport stations and an average fleet in excess of 20,000 vehicles.
It is the fifth largest car rental company in the market operating in the low cost car rental sector, while also a key player in the van and truck segment. Buchbinder is also a market leader in Austria and is present in Hungary and Slovakia. In 2016, Buchbinder Group generated revenues of around €200 million.
Europcar Group said that Buchbinder has a well-diversified business model, a large customer base with a strong focus on small- and medium-sized enterprises (SME) and a renowned brand praised by local customers for the quality of its service.
Europcar said its acquisition of Buchbinder will significantly boost its growing low cost business in Germany and the strength of the Buchbinder brand will bring an opportunity to source further into the large pool of German and Austrian travellers in order to grow Europcar’s low cost business in southern Europe.
In addition, the combination of Buchbinder and Europcar Germany’s vans and trucks businesses will not only create a market leader but more importantly act as a core pillar to drive the vans and trucks expansion strategy across the Group.
Europcar would also be drawing on Buchbinder’s fleet remarketing expertise to deliver further opportunities across the Europcar Group.
