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Our Factsheet
Growing the business since 1958
In Summary: Day after day, Budget employees and operators at approximately 2,700 locations in more than 120 countries help support our vision, mission and values.
Quick History
Budget Rent A Car was founded by Morris Mirkin in 1958 with a $24,000 investment. The company name was chosen to appeal to the “budget-minded” or “value-conscious” renter. In 1959, in an effort to grow the business, Mirkin appealed to a distant relative, Jules Lederer, president of a Chicago-based manufacturer of writing instruments, for additional financing. Lederer formed a leasing company and leased new vehicles to Mirkin. In 1960, Lederer formed Budget Rent A Car Corporation in Chicago. The company then grew rapidly, both nationally and internationally.
In 1986, Gibbons, Green and van Amerongen Ltd. along with management and selected investors purchased Budget from Transamerica Corp. in a LBO transaction. Budget made an initial public offering of 3.2 million shares in 1987.
In 1992, Budget moved downtown Chicago headquarters to Lisle, Ill.
In April 1997, Budget was bought by Team Rental Group, Budget’s largest franchisee in the United States and changed its name to Budget Group, Inc. Budget Group began trading on the NYSE that year.
In 1997, Budget unveiled “Unlimited Budget” a travel agent loyalty program through which members receive a free Unlimited Budget debit MasterCard card and earn points (dollars) for completed bookings.
In 1998, Budget introduced “Fastbreak,” Budget’s express service with paperless transaction.
In 2002, Budget Group was delisted from the NYSE and sold Budget Rent A Car assets in the United States, Canada, Latin America, Caribbean, Australia and New Zealand to Cendant Corporation. Other worldwide assets were sold to Avis Europe, Plc. Later, Cendant moved Budget headquarters from Lisle, Ill. to Parsippany, N.J.
In 2006, Cendant Corporation separated into four independent companies: Realogy, Wyndham Worldwide, Travelport and Avis Budget Group, Inc. As a result, Budget Rent A Car System, Inc. is now a subsidiary of Avis Budget Group.
In 2011, Avis Budget Group, Inc. acquired Avis Europe plc. The transaction re-unites Avis Budget Group with its licensee for Europe, the Middle East, Africa and Asia.
About this location:
Location
Berkeley
Additional Travel Information
Berkeley, California is on the state’s western coast and home to the oldest and possibly most well-known University of California campus. The city is on the shore of the San Francisco Bay, and as with the rest of the state, it is known for its stunning natural beauty and nearly year-round warm weather. The city is large, and there’s a lot to do, so if you’re visiting, it is a good idea to look into Berkeley car rentals to be sure you can get around easily.Budget is located on Gilman Street in Berkeley in the northwestern part of the city and just a few miles from the coast. Budget Rent a Car Gilman Street is also located near Interstate 80, also known as the Dwight D. Eisenhower Highway, making it a perfect location to pick up rental cars. Budget Gilman Street offers a wide selection of car rentals to choose from, including two- and four-door cars as well as SUVs. If you’re taking your family on vacation, you may want to consider getting a Berkeley rental car deal on a standard SUV, such as the Ford Edge, for the abundant seating and storage space.From Gilman Street, you can head off into the city and visit the Berkeley Art Museum and Pacific Film Archive, the Marina or the University Botanical Garden. You can also take I-80 to visit Yerba Buena Island via the San Francisco – Oakland Bay Bridge.Budget Car Rental Gilman Street also offers Fastbreak, which at participating locations allows you to flash your license, grab your keys and go.
Additional Location Information
Select from a wide variety of vehicles at Budget Berkeley, check out the latest Berkeley Car Rental Deals, and be confident that you are getting the best rental rates in California !
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