Enterprise Holdings reports that it has acquired the business of Mint Cars On-Demand, a car-sharing company serving more than 8,000 members in New York City and Boston. The acquisition has closed and financial terms of the transaction will not be disclosed.
Enterprise Holdings operates the flagship Enterprise Rent-A-Car brand as well as the National Car Rental and Alamo Rent A Car brands.
Mint’s services will be offered under its current brand name initially. However, the Mint car-sharing vehicles will immediately be incorporated into the local Enterprise car-rental fleets in the New York City and Boston regions – and operated as a natural extension of the Enterprise home-city business model, which already includes a wide variety of car leasing, vanpooling and hourly rental programs.
By year’s end, all of Enterprise’s car-sharing services throughout the country – including WeCar by Enterprise, PhillyCarShare and Mint – will be transitioned to the Enterprise Car Share brand name.
“We have been anticipating and meeting local transportation needs for more than 55 years, so underscoring car-sharing’s connection to the Enterprise name and legacy makes perfect sense,” explained Ryan Johnson, assistant vice president for Enterprise Holdings.
The Mint network has grown to more than 40 locations across Manhattan, Brooklyn and Boston in just four years. Johnson said he sees the acquisition as the beginning of an ideal partnership, since car-sharing services are basically a form of local car rental, only with different technology.
Enterprise has annual revenues of $14.1 billion and more than 70,000 employees. Enterprise Holdings owns and operates, through its regional subsidiaries, more than 1.2 million cars and trucks, making it the largest car rental company in the world measured by revenue, employees and fleet.