Ever needed a car for a short period of time? Car rental company Avis Budget Group Inc (NASDAQ: CAR) makes it known they specialize in cars.
Avis Budget Group was actually part of a larger, now-defunct company called Cendant. The company split into different segments, and the automobile rental segment consisted of Avis and Budget. The two now exist as Avis Budget Group.
Unbeknownst to most, the Cendant spin-off resulted in a couple of other well-known companies. Its hotel franchises spun-off into Wyndham Destinations (NASDAQ: WYND) and its real estate franchise spun-off into Realogy (NASDAQ: RLGY).
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