The sale by Woods Group will free funds for the firm to expand its Sidlow-branded dealership operations. Budget has acquired the Woods Car Rental name, vehicles, management and 100 staff in the deal and will be sending its own staff to Woods' Reigate headquarters to help with integration. Many of the acquired firm's rental sites are at airports and where they overlap with Budget sites, the Woods operations will be merged.
Doug Sawers, managing director of Budget, said job losses to eliminate duplication of roles should be kept to a minimum as staff could be used elsewhere in Budget's operations as it continued to expand. Peter Woods, managing director of Woods Car Rental, who will continue to head the operation, said: 'It was in our interest to secure the long-term future of the company.'