Greyhound Lines sold to European bus firm

The iconic US Greyhound Lines brand has been sold by UK transportation firm FirstGroup.

The long distance bus firm has been acquired by European coach and rail company FlixMobility for $172 million, with $140 million paid initially.

Greyhound connects 2,400 destinations across North America with nearly 16 million passengers each year.

The FlixBus global network serves more than 2,500 destinations in 36 countries outside the US with 400,000 daily connections.

The company said: “The purchase brings together FlixBus’ innovative global technology and shared mobility expertise with Greyhound’s iconic nationwide presence and experience, creating a company that will be better able to service the needs of coach travellers in the US.

“Coach lines were a lifeline during the pandemic for communities and essential workers, and as economies re-open, they will be a tremendous driver for sustainable growth across the country.”

Founder and chief executive Andre Schwammlein added: “Consumers across North America are increasingly seeking affordable, comfortable, smart and sustainable mobility solutions.

“A compelling offering will draw significantly more travellers away from private cars to shared coach mobility.

“Together, FlixBus and Greyhound will be better able to meet this increased demand. As our business continues to recover from the effects of the pandemic, we will replicate the success that we have already achieved in 36 countries outside of the US with our innovative and customer centric approach.”

The deal completes a FirstGroup strategy to focus on its UK public transport businesses.

FirstGroup executive chairman David Martin said: “The sale of Greyhound to FlixMobility is part of our portfolio rationalisation strategy to refocus FirstGroup as a UK public transport leader.

“The strength of Greyhound is its people, and I would like to thank them for their unwavering commitment to their customers and communities.

“As part of FlixMobility, I am confident that Greyhound will be well placed to continue to grow and develop their iconic services for many years to come.”

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