Hertz buys UK's CCL Vehicle Rentals, no terms

Hertz acquires UK-based CCL Vehicle Rentals, seen as entry into insurance replacement market

Associated Press

NEW YORK (AP) -- Hertz Corp. said Tuesday that its United Kingdom subsidiary acquired accident management provider CCL Vehicle Rentals Ltd.  

Financial terms were not disclosed.

Hertz said the move positions it for significant growth potential in the United Kingdom's $1.5 billion car and van insurance replacement market. The Park Ridge, N.J.-based company has served the U.S. insurance replacement industry for more than 10 years.

CCL, which employs about 200 people across six U.K. locations, will operate as a Hertz subsidiary.

Hertz shares were unchanged at $26.16 in midday trading.

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