Enterprise Rent-A-Car today completed its purchase of Vanguard Car Rental, parent of the National Car Rental and Alamo Rent A Car brands, from Cerberus Capital Management, Enterprise's owners said.
For now, Vanguard's brands will operate as a separate business subsidiary from Enterprise, although joint teams from both companies have begun reviewing the integration process. For example, Enterprise corporate customers are being offered free memberships in National's Emerald Club.
"Over time and with careful study, we will determine how best to join these operations and create the most comprehensive service provider in the history of this industry," Enterprise chairman and CEO Andrew Taylor said in a prepared statement. "Already on day one, we are implementing programs that allow each company's corporate customers to participate in programs offered by its new sister company."
Enterprise, which until now had only a small percentage of its business aimed toward corporate rental agreements, announced the agreement to purchase Vanguard earlier this year
(BTN, April 23). Combined, Enterprise and Vanguard account for $11.7 billion in annual revenue, 10,683 locations, 1.1 million vehicles and almost 75,000 employees.