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Slide #60. Franchise Services of North America Inc. — Simply Wheelz, LLC
Franchise Services of North America Inc. (FSN.CA)
Simply Wheelz, LLC
FRANCHISE SERVICES OF NORTH AMERICA INC. announced that it entered into an arm's length agreement on July 13, 2012 to acquire Simply Wheelz, LLC, a Delaware limited liability company and the holding company of the Advantage Rent-A-Car brand and certain other divested assets from Hertz Global Holdings, Inc.. FSNA's purchase of Advantage facilitates Hertz's $2.3 billion announced acquisition of Dollar Thrifty Automotive Group, Inc. announced yesterday.
Franchise Services of North America is engaged in the auto rental business. Co. owns two operating subsidiaries, U-Save Auto Rental of America, Inc. ("U-Save") and Practicar Systems Inc. ("Practicar"). U-Save licenses franchises to operate U-Save Auto Rental businesses in the United States and abroad. Auto Rental Resource Center provides insurance discounts and products and services to its members who operate independent vehicle rental businesses. Co. also owns a full-service insurance agency, providing insurance products to its franchisees, associates and third-party customers. Practicar licenses franchises to operate Rent-A-Wreck vehicle rental and sales businesses in Canada.
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