Hertz Gobbles Up Dollar Thrifty

Consolidation continues to hit the rental car market as Hertz announced today that it has agreed to a $1.2 billion purchase of Dollar Thrifty Automotive Group.

When completed, it should make Hertz the second-largest rental car company in the country in terms of market share. Currently, Enterprise dominates the market with a 53% market share, followed by Avis’ 20% share. Adding Dollar Thrifty should give Hertz a 23% share and allow it to jump ahead of Avis.

Says the guy from Hertz:

Dollar Thrifty also has a strong international presence, complementing our global footprint, which enables us to utilize a recognized brand to accelerate our leisure rental strategy in Europe and other markets

Hertz to buy Dollar Thrifty for $1.2 billion [Reuters]