Reuters has reported that Europcar will buy rival Goldcar in a €550 million deal, increasing the French car rental business’s exposure to the low-cost holiday rental market.
Goldcar is Europe’s largest low-cost provider, with a fleet of 50,000 vehicles across 87 locations including Spain, Portugal and Italy.
Europcar has already acquired Milan-based car sharing company GuidaMi, Europcar Denmark and Buchbinder in Germany in pursuit of its goal of reaching annual sales of more than €3 billion and an underlying Ebitda margin of 14% by the end of 2020.
