The Hertz Corporation the world’s largest general use car rental brand, and Emil Frey Group have signed an agreement for Emil Frey Group to join Hertz’s global franchising network and purchase the Hertz car rental business in Switzerland, representing a total of 30 locations.
Mark P. Frissora, Chairman and Chief Executive Officer for The Hertz Corporation, said: “Hertz is pleased to be joining forces with Emil Frey Group. A premier brand in the automotive and financing industry, Emil Frey Group is an ideal partner to operate Hertz in Switzerland, taking the growth of both businesses to the next level. In addition, Emil Frey Group’s high standards of service will ensure that customers will continue to receive the superior car rental experience that we are known for around the globe.”
Michel Taride, President, Hertz International, added: “Hertz and Emil Frey Group each have a strong heritage in both Switzerland and Europe, with a long track record of innovation and customer service. Through our partnership, we will accelerate the growth of Hertz in Switzerland, as well further strengthen our worldwide franchising network. The Emil Frey Group agreement reaffirms Hertz’s vision of being the global leader in mobility solutions in all markets.”
The licensee agreement is part of The Hertz Corporation’s company-wide strategy to grow its business through carefully selected partnerships with leading local operators. Emil Frey Group will benefit from Hertz’s worldwide service infrastructure, technology investments, standards and expertise.
Gerhard Schurmann, Chief Executive Officer, Emil Frey Group, commented: “As Hertz is a time-honored and highly respected brand, we are proud to join the Corporation’s vibrant, global franchising network to operate Hertz in Switzerland. The car rental business will highly complement our car dealership, importing, distribution, leasing and banking businesses. The Hertz brand will also enhance our relationship with our customers and enable us to offer them a wider range of services for their mobility needs. We share with Hertz a strong commitment to growth, innovation, customer service, and employee satisfaction.”
The agreement with Emil Frey Group is part of Hertz’s global strategy to transition select corporate markets and locations to franchisee operators to derive value from their local market expertise, resources and complementary commercial strategies. In addition to providing franchisees the license to operate under the Hertz brand name, which provides instant worldwide recognition, Hertz offers unparalleled support, including training, operational services, technology, web platforms, integrated reservations systems and customer service.