Addison Lee Becomes Largest London Taxi Firm With Black Cab Buy
(Bloomberg) -- London minicab company Addison Lee Ltd agreed to acquire black taxi service ComCab, positioning itself to benefit from an expected pickup in demand for rides as the city emerges from lockdown.
The deal will make Addison Lee London’s largest taxi firm, with more than 7,000 vehicles, the company said Wednesday. It will acquire the London operations of ComCab, City Fleet Networks and Flightlink International for an undisclosed sum, according to a statement.
“As London emerges from the pandemic, there’s going to be a significant increase in demand for safe, quality transport from both corporates and consumers,” Addison Lee Chief Executive Officer Liam Griffin said in the statement.
The acquisition brings together two traditional private-cab companies hit by an onslaught of ride-hailing services like Uber Technologies Inc. over the past several years. Customers will be able to book car, taxi and courier services in one place following the combination, Addison Lee said.
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