Budget Rent a Car is an American car rental company that was founded in 1958 in Los Angeles, California by

Morris Mirkin Morris Mirkin (1919 – June 27, 1985) was an American businessman who founded Budget Rent-a-Car. Biography Mirkin was born to a Jewish family in Sioux City, Iowa, the son of immigrants from Russia. Mirkin served in the U.S. Air Force during Wo ...

. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.

History

With its original fleet of 10 cars, the company lived up to the 'Budget' name by undercutting the daily and per mile rental rates of the established airport based car rental companies. Mirkin was joined in 1959 by Julius Lederer and together, they built the company internationally. In 1960, the headquarters moved to Chicago, Illinois and the rental fleet expanded with

franchised Franchise may refer to: Business and law * Franchising, a business method that involves licensing of trademarks and methods of doing business to franchisees * Franchise, a privilege to operate a type of business such as a cable television p ...

and wholly owned rental outlets. The company was eventually acquired by Transamerica Corporation, and then sold in 1986 in a leveraged buyout by Gibbons, Green and van Amerongen Ltd., along with management (led by CEO Clifton E. Haley) and selected investors. The company made its first public stock offering in 1987.

Team Rental Group A team is a group of individuals (human or non-human) working together to achieve their goal. As defined by Professor Leigh Thompson of the Kellogg School of Management, " team is a group of people who are interdependent with respect to infor ...

purchased the public company in 1997 and took the name Budget Group. In 2002, it sold the company's assets to Cendant Corporation, which also owned

Avis Avis is Latin for bird and may refer to: Aviation *Auster Avis, a 1940s four-seat light aircraft developed from the Auster Autocrat (abandoned project) *Avro Avis, a two-seat biplane *Scottish Aeroplane Syndicate Avis, an early aircraft built by ...

. In September 2006, Cendant Corporation separated into four independent companies. The real estate division became Realogy, Inc., its hospitality services division became Wyndham Worldwide, and the travel distribution services division became Travelport, Inc., an affiliate of The Blackstone Group. In 2006, following the Travelport sale, Cendant, now composed solely of its vehicle rental services businesses, renamed itself Avis Budget Group.

Locations

Worldwide, as of 2019, 2,275 locations are company owned, and 1,650 are licensees; 1,925 offices are located in the Americas, and 2,000 are located internationally.

Celebrity spokespersons

Beginning in April 2011, television actress Wendie Malick of '' Hot in Cleveland'' became the spokesperson in a series of television and online ads that offer special, limited-time, discount offers.

References

External links

* {{Authority control 1958 establishments in California 1980s initial public offerings 2002 mergers and acquisitions American companies established in 1958 Avis Budget Group Car rental companies of the United States Franchises Parsippany-Troy Hills, New Jersey Retail companies established in 1958 Transport companies established in 1958

History

Locations

Celebrity spokespersons

See also

References

External links