Aruba Growth Fund Expands Its Portfolio with the Acquisition of Avis and Payless
Aruba Growth Fund is pleased to announce the expansion of its portfolio through the acquisition of two prominent car rental brands, Avis and Payless. This strategic move, completed in 2021, reinforces the Fund's commitment to strengthening its presence in the local car rental market.
Avis, Payless, and Budget, now collectively under Aruba Growth Fund's management, represent a formidable alliance. Internationally, all three brands are integral parts of the esteemed Avis Budget Group Inc., allowing the Fund to significantly enhance its position in the local market.
Avis, a globally recognized leader in car rental services, is conveniently located at both the airport and Palm Beach, ensuring accessibility for customers. Payless, situated at the airport hotel, complements this strategic presence.
This acquisition has empowered Aruba Growth Fund to offer a comprehensive range of car rental options, catering to a diverse spectrum of customers. With three distinct brands, the Fund can implement targeted price segmentation, optimizing vehicle utilization and expanding its reach to a broader customer base.
Aruba Growth Fund is enthusiastic about the prospects that this acquisition brings. The Fund is confident in its ability to support and nurture Avis, Payless, and Budget in their journey towards growth and service excellence. This endeavor solidifies the Fund's commitment to delivering outstanding value and service in the car rental industry, reflecting its dedication to the success of its portfolio brands.”
Posted on Nov 01, 2023