Fleet News

Portuguese group invests 60m Euros in Brazil's number two rental firm

Portuguese car group SAG, which has representations from marques such as as Volkswagen, Audi and Skoda as well as renting and retail operations, has invested 60 million Euros in acquisition of the total social capital of Unidas, Brazil's second largest rent-a-car company.

The Brazilian company has a distribution network of 100 stations distributed in 61 different cities in the South American country, including 30 shops strategically placed in airports.

After reaching the number one position in the national car sector, SAG broadens its horizons by positioning itself as one of the key players also in the Brazilian market.

In the near future, the development of the business - operational renting and defleet - will strengthen SAG's position in the automotive services area.

The internationalisation of the company is one of the priorities for the next two years. There are plans to start operations in Spain, mainly intended to build on synergies, besides the acquisition of Unidas, which is well positioned in a rent-a-car market that has had a very positive variation in the last five years, growing at an average 7.6% a year.

At the end of last year Unidas had a little under 4,300 vehicles in its fleet, but there are ambitious plans to reach 6,500 in December this year and 10,000 by the end of 2003 - also meaning that the defleet business will grow from the new and numerous stream of supply. (July/August 2001)

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