Heuking Kühn Lüer Wojtek Advises on Sale of CARO Autovermietung GmbH to Enterprise Rent-A-Car
April, 2017 - Germany
A team led by Dr. Katharina Prasuhn from the Hamburg office advised the sellers on the sale of rental car company CARO Autovermietung ("CARO") to Enterprise Rent-A-Car Deutschland ("Enterprise"). The acquisition of CARO by Enterprise establishes one of Germany's largest car rental companies.
CARO was founded by Stefan Peters in 1998 and operates in the corporate and replacement sectors. The company has more than 800 employees at 46 locations throughout Germany.
Enterprise Holdings Inc., St. Louis, Missouri, USA, operates the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands through an integrated global network of its own subsidiaries and independent franchise partners.
The agreement on the acquisition is subject to approval by the German Federal Cartel Office. The purchase price was not disclosed. Until the transaction is closed, the Enterprise and CARO brands will be operated independently. It is scheduled to integrate CARO later in the year. As a result of the acquisition of CARO, Enterprise will have more than 200 locations with over 2,300 employees in Germany and will be expanding its fleet to 17,000 vehicles.
