In the latest car hire news, Goldcar is now part of Europcar. In a statement, Europcar, a world market leader in car rental, said it had finalised its acquisition of Goldcar. It follows the European Commission’s approval of the transaction earlier in December this year. The acquisition gives Europcar a boost in Europe’s growing low-cost market. And Goldcar joins InterRent, another low-cost car rental brand under Europcar.
Commenting after the European Commission approved the acquisition, Europcar chief executive Caroline Parot said:
“We are pleased with the decision from the EU Commission to approve the acquisition of 100% of Goldcar.”
“As soon as January 2018, Goldcar will be at the core of the Europcar Group’s low-cost deployment strategy and will be a strong driver of both revenue and margin growth for the group as a whole.”
What will change for Goldcar?
Goldcar’s future seems safe under Europcar. It is arguably the biggest name in Europe’s low-cost car hire market. Since launching in 1985, the company has seen a steady expansion across Spain – particular in the country’s most popular holiday destinations. Goldcar now has over 40 locations in Spain including Alicante Airport and Malaga Airport. In recent years, it has also moved into other popular holiday destinations including Portugal, Italy, Malta and Mexico’s Cancun. And earlier this year, the company announced that it would be opening locations in Turkey. Whilst Goldcar’s brand of car hire has not been without controversy, it’s a name that is hard to ignore.
So far, Europcar has said it has plans to make savings in the purchase and refinancing of Goldcar’s fleet. The company’s statement also said that it sees benefits from combining “Goldcar’s simplified operating model and Europcar’s strong roots in Europe.”