Brazil's Unidas buys Zetta Frotas, steps up specialized fleet plan
Brazilian automobile rental and leasing company Unidas has announced the purchase of local fleet management firm Zetta Frotas for 25 million reais (US$4.85mn).
The deal, which also includes the transfer of 2mn reais in Unidas shares, is subject to final verification from Brazil’s antitrust agency Cade.
Zetta is present in eight Brazilian states with a fleet of 2,600 units. And, according to local financial daily Valor Econômico, it closed 2019 with net revenue of 103mn reais, Ebitda of 40.1mn reais and net profit of 7.7mn reais.
The acquisition is part of Unidas’ plan to develop a fleet of specialized vehicles (e.g. ambulances, rescue and police vehicles, as well as ICU support units and funeral cars). With more than 85,000 units, Unidas holds the largest long-term leasing vehicle fleet in Latin America, according to Fleet LatAm Directory 2020.
Meanwhile, to help refinance debt, its administrative council has also approved a 300mn-real three-year loan at 3% above the one-day interbank deposit (CDI) rate.