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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
Fry's Food & Drugs
Additional Travel Information
With year-round warm weather, Scottsdale, Arizona, is a popular destination when the rest of the country is gripped with snow and cold. Towering mountains meld seamlessly with a picturesque desert landscape while top-notch shopping in the Fashion Square is sure to delight the entire family. Hit up an evening ball game at the Salt River fields or ride through the desert on horseback at MacDonald’s Ranch. Because Budget car rental at Fry’s Food & Drugs is conveniently located, you can visit everything you need to with just a short drive. Budget at the Fry’s Food & Drugs location makes getting rental cars incredibly easy from start to finish. Find the car to suit your family from the comfort of your home with an easy-to-use website. Choose the dates you need and get a Scottsdale rental car deal in 60 seconds. Enjoy the benefits of FastBreak services, where all you have to do is flash your license, grab your keys and go. Go green with fuel-efficient cars or choose from a wide selection of minivans and SUVs to fit your entire family. Whether you want to get closer with nature or stay in town to hit the water parks and historic Old Town, you need a clean, fuel-efficient vehicle from the conveniently located Fry’s Food & Drugs in Scottsdale. Use your phone or tablet for making reservations online and you can save up to 30 percent on Scottsdale car rentals. Grab a snack from Fry’s Food & Drugs before picking up your keys and getting to know this beautiful city.
Additional Location Information
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