Flixbus acquires Greyhound, legendary American brand of long-distance buses
The German company Flixbus acquires Greyhound, the American leader in long-distance buses.
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The transaction is worth $ 172 million.
With this takeover, the German coach company Flixbus intends to strengthen its transport offer in the United States.
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This latest take is a new masterstroke for the boss of Flixbus, Jochen Engert, co-founder of the company which was founded in 2013. In just eight years, the German company has achieved a meteoric rise. As early as 2018, Flixbus launched its offer in the United States in order to compete with Greyhound. The objective is therefore achieved.
To afford the legendary American long-distance coaches, Flixbus will pay $ 172 million to the British Firstgroup, current owner of Greyhound. The company, founded in 1914, is the leader in the American market with its coaches which cover 2,400 destinations and carry 16 million passengers per year. Buses that have brought generations of travelers and students across the United States at low cost and are part of American identity and culture.
But the health crisis hit Greyhound hard, which had to reduce the number of its trips and withdraw from the Canadian domestic market.
Weakened, Firstgroup announced last April to sell part of its activities in the United States for 4.6 billion dollars, leading it to sell a large part of its famous yellow school buses.
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