New York taxi firm Yellow Cab buys rival Rochester Taxi
Yellow Cab has bought its young rival Rochester Taxi in a deal that leaves the taxi service in the hands of just two groups, Yellow Cab and Med City Taxi, according to Post Bulletin. The financial terms of the acquisition deal were not disclosed in the said report.
Andy Chafoulias, one of the co-owners of Yellow Cab parent firm Best Ride, said of the Rochester Taxi: "We plan on operating this as a separate franchise for a short period of time with the ultimate goal of a cohesive brand under the Best Ride name."
Roba Bati, who launched Rochester Taxi in 2013, said he was not trying to sell the company. However, he agreed to the terms when Best Ride approached him with an offer. Rochester employed over 30 people and operated a fleet of transportation vehicles, the report detailed.
Under the terms of the transaction, the fleet of Rochester Taxi has not begun operating from Best Ride's dispatch at 7201 22nd Ave, S.W., Bati Said. The said complex is located beside the Rochester International Airport, Post Bulletin added.