Dollar Thrifty Automotive Group Acquires Thrifty Franchise Operation in Pensacola
TULSA, Okla., July 12 -- Dollar Thrifty Automotive Group, Inc. today announced the acquisition of the Thrifty Car Rental franchise operation serving the Pensacola Regional Airport. Terms of the acquisition were not disclosed.
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The Pensacola franchise operation was sold by LaGrange Aero, Inc., owned by Joseph Fagundes III. Fagundes has been a successful franchisee for several years and he will continue to own and operate the Dollar and Thrifty locations in Ft. Walton Beach, Florida, as well as several Thrifty locations in Georgia.
"This is an excellent transaction for us," Jay Foley, Senior Executive Vice President -- Corporate Operations, said. "Dollar Thrifty Automotive Group adds the Thrifty brand to its Dollar corporate operation in Pensacola and we will be working to achieve operating synergies in fleet, back office and management. In addition, Joseph Fagundes, a successful, long-time franchisee, will remain as a Dollar and Thrifty operator. We look forward to continuing to provide value-seeking car rental customers in Pensacola with our outstanding service and quality products."
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value- conscious travelers in approximately 70 countries. Dollar and Thrifty have approximately 1,600 corporate and franchised worldwide locations including over 800 in the United States and Canada. The Dollar or Thrifty brands operate in virtually all of the top U.S. airport markets; both brands operate in all of the top Canadian airport markets. The Company's more than 8,500 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit http://www.dtag.com/ .
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations. These factors include: price and product competition; access to reservation distribution channels; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; natural hazards or catastrophes; incidents of terrorism; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; systems or communications failures; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters and litigation risks. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward- looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
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