DALLAS & LONDON – (BUSINESS WIRE) – Dec. October 2021–
FlixMobility (“the Company”), global mobility provider for the FlixBus and FlixTrain brands, announced today that it has acquired Greyhound Lines, Inc. (“Greyhound”), the largest long-distance bus transportation provider in the United States, from FirstGroup plc. This acquisition is another important step in FlixMobility’s vision to bring user-friendly, affordable and environmentally friendly travel to consumers around the world.
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The purchase combines FlixBus’ innovative global technology and shared mobility expertise with Greyhound’s legendary statewide presence and experience, creating a company that can better serve the needs of bus travelers in the U.S., a vital workforce, and as the economies reopen, they will become a vital workforce be a huge engine for sustainable growth across the country. The FlixBus Global Network serves over 2,500 destinations in 36 countries outside the USA with 400,000 daily connections. Greyhound currently connects around 2,400 destinations across North America with nearly 16 million passengers a year.
André Schwämmlein, founder and chief executive officer of FlixMobility, said: “Consumers across North America are increasingly looking for affordable, comfortable, intelligent and sustainable mobility solutions. A convincing offer will lead significantly more travelers away from private cars towards shared bus mobility. Together, FlixBus and Greyhound will be able to better serve this increased demand. As our business continues to recover from the effects of the pandemic, we will repeat the success we have already achieved in 36 countries outside the US with our innovative and customer-centric approach. “
Today, coaches as a sustainable and barrier-free alternative are more important than ever. Fluctuations in gasoline costs, the recent price hike in automobiles and concerns about climate change have fueled many consumers’ interest in finding alternatives to individual car use. FlixMobility is at the forefront of this global megatrend, and the acquisition of the legendary Greyhound business will help the company realize its vision of bringing sustainable and affordable travel to everyone.
Jochen Engert, founder and Chief Executive Officer of FlixMobility, commented: “The continuous expansion of our services through partnerships and acquisitions has always been an essential part of our growth strategy to expand our global presence. The Greyhound acquisition is a big step forward in the US. The FlixBus and Greyhound teams share a common vision of making smart, affordable and sustainable mobility accessible to everyone. “
David Martin, Executive Chairman of FirstGroup plc, said, “The sale of Greyhound to FlixMobility is part of our portfolio streamlining strategy to realign FirstGroup as the leading UK public transport company. Greyhound’s strength is its people, and I want to thank them for their unwavering dedication to their customers and communities. As part of FlixMobility, I am confident that Greyhound will be well positioned to continue growing and developing its iconic services in the years to come. “
FirstGroup has entered into an agreement with Neptune Holding Inc. (the “Buyer”), a company wholly controlled by FlixMobility, to sell Greyhound Lines, Inc., the US Greyhound business (including its fleet of vehicles, Brands and certain other assets) met liabilities) for a debt / cashless enterprise value of approximately $ 46 million plus an unconditional deferred consideration of $ 32 million at an interest rate of 5% per annum.
Further information is available at www.firstgroup.com.
FlixMobility was launched in Germany in 2013 by Jochen Engert, Daniel Krauss and André Schwämmlein to offer a revolutionary means of transport that combines technological progress, e-commerce capabilities and sustainable mobility. Over the past eight years, the company has had a remarkable track record, with FlixBus growing into Europe’s largest coach network, helping more than 62 million people achieve their goals in 2019.
FlixBus was launched in the UK in July 2020. Despite the pandemic, the company has been expanding its services ever since. The bus tour operator covers numerous destinations in England, Wales and Scotland, including Bristol, Birmingham, Cardiff, Edinburgh, Glasgow, Manchester and Sheffield. International trips to continental Europe were also resumed in September. The UK is an integral part of FlixBus’ global growth agenda, with the company’s goal to have the largest coach network in the country by 2025.
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About Flix
FlixMobility is a mobility provider and, with the FlixBus and FlixTrain brands, offers new alternatives for comfortable, inexpensive and environmentally friendly travel. With a unique approach and innovative technology, the company quickly built Europe’s largest long-distance bus network and launched the first green long-distance trains and a pilot project for fully electric buses in Germany, the USA and France in 2018. Since 2013, FlixMobility has changed the way hundreds of millions of people travel across Europe and created tens of thousands of new jobs in the mobility industry. In 2018 FlixMobility launched FlixBus USA to bring this new travel alternative to the USA.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211020006200/en/
CONTACT: Media: press@flixbus.co.uk Boglarka Miklosy, FlixBus
Senior Communications ManagerFTI Consulting
flixbus@fticonsulting.com
KEYWORD: TEXAS NORTH AMERICA UNITED STATES IRELAND UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: AUTOMOBILE TRANSPORT PUBLIC TRANSPORT TRAVEL FLEET MANAGEMENT
SOURCE: FlixMobility
Copyright Business Wire 2021.
PUB: 10/21/2021 02:02 AM / DISC: 10/21/2021 02:02 AM
http://www.businesswire.com/news/home/20211020006200/en
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