Dollar Thrifty Automotive Group Acquires Dollar and Thrifty Franchises in Six Airport Markets
TULSA, Okla., Dec. 3 // PRNewswire-FirstCall // -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced the acquisition of the Thrifty Car Rental in-terminal operations at Kansas City International Airport; Omaha Eppley Airfield and Lincoln Airport in Nebraska; and Springfield-Branson National Airport in Missouri. In addition, DTG acquired an in-terminal location at Wichita Mid-Continent Airport in Kansas and an in-terminal location at Des Moines International Airport in Iowa featuring both the Thrifty and Dollar brands. Also included in the acquisition are two local market stores in Kansas City and off-airport parking locations serving Kansas City International Airport and Springfield-Branson National Airport.
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"Converting these six Midwestern airport markets to corporate-owned operations is a significant move for us as we continue our strategic initiative to acquire franchise operations in key airport markets," said Scott Anderson, senior executive vice president of corporate operations at Dollar Thrifty. "We are excited to bring them into our corporate family."
The Thrifty franchise operations in Kansas City and Springfield, Mo.; Omaha and Lincoln, Neb.; Dollar and Thrifty operations in Des Moines, Iowa; and the Thrifty in-terminal location in Wichita, Kan.; were sold by Flacks Enterprises, LLC, owned by Harvey A. Flacks and his wife Janelle R. Flacks. The Flacks have been a successful Thrifty franchisee since 1982, and in 2004 obtained a dual-franchise location in Des Moines, Iowa with the addition of the Dollar Rent A Car brand.
The Wichita, Kan., Dollar franchise operation was acquired from E & J Rental & Leasing, Inc., owned by N. David Johnson. The transaction includes an in-terminal location serving Wichita Mid-Continent Airport. Johnson has been a Dollar franchisee since 1984, and until 1989, owned locations in Tulsa and Oklahoma City, Okla., as well. Since 1995, the Dollar location in Wichita has been the only locally-owned rental car company at the Mid-Continent Airport.
The acquisitions will add more than 1,500 cars to the Company's corporate fleet. The terms of each agreement, effective December 1, 2007, were not disclosed.
About Dollar Thrifty Automotive Group, Inc.
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious travelers in approximately 70 countries. Dollar and Thrifty have over 800 corporate and franchised locations in the United States and Canada, operating in virtually all of the top U.S. airport markets and in all of the top Canadian airport markets. The Company's more than 8,400 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit http://www.dtag.com.
SOURCE: Dollar Thrifty Automotive Group, Inc.
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