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Republic Industries Buys Snappy Car Rental for $26 Million.(Originated from The Miami Herald)
Knight Ridder/Tribune Business News, July, 1997 by McNair, James
Jul. 9--In its latest of a string of rental fleet acquisitions, Republic Industries of Fort Lauderdale said Tuesday it has agreed to buy Snappy Car Rental for $26 million in cash or stock. If the purchase goes through, it would give Republic a rental car company fleet that already includes National, Alamo, Ohio-based Spirit and, in another pending deal, Value.
"The acquisition of Snappy firmly establishes Republic in the insurance replacement business and, when combined with Spirit and Alamo's Alasys, gives Republic a strong base from which to expand in this growing market," said Steven Berrard, Republic's co-chief executive.
Snappy, based in Tulsa, Okla., is owned primarily by an investor group headed by Jacobson Partners, a New York...
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