Bidvest Car Rental, a subsidiary of international holdings company, [DATA BVT:Bidvest Group], said it has reached an agreement with Avis Budget Group, whereby Bidvest will cease to operate as Budget Car, Van and Truck Rental in Southern Africa as of 28 February 2015.
“The separation discussions have followed in the spirit of our long-standing relationship and both parties are fully committed to ensuring no disruption to customers and partners alike,” said Bidvest South Africa's chief executive, Lindsay Ralphs.
"Over the coming month, Bidvest will embark on the launch of Bidvest Car Rental, a truly and ‘Proudly South African’ domestic car and van rental business."
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Avis Budget Group however, said it would continue to own and operate the Budget Car, Van and Truck Rental brands in Southern Africa.
Troy Warfield, Avis Budget Group EMEA commercial & licensee director added, “This has been an amicable decision that we believe will continue to serve the needs of all our local and international customers."
"Both parties are fully committed to collaborating to ensure we continue to provide the same high level of service to all our customers," he said.
A separation agreement has been concluded to ensure a smooth transition for both parties to the end of February 2015.
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Paulette McGhee, chief executive officer of Bidvest Car Rental indicated that the existing infrastructure, management and team of 850 staff will remain unaffected following the decision.
“The rebranding of all our locations to Bidvest Car Rental is expected to be concluded by the end of February 2015," she said.
"The direct association with a well-established brand like Bidvest has everyone in the business extremely excited and all are looking forward to this new chapter."