Car hire takeover

EUROPCAR is powering ahead with its aggressive expansion strategy by buying lowcost vehicle rental company Goldcar.

The car-hire giant said buying its Spanishbased rival – valued at £481m – will generate close to £26.3m in savings each year by 2020.

The deal is Europcar’s fourth acquisition this year and comes as it chases its goal of reaching more than £2.6bn yearly sales by the end of 2020.

The group had previously bought milanbased car-sharing company Guidami, Danish franchisee Europcar Denmark and Germany’s Buchbinder.