Paris-based Loxam, Europe’s largest rental company, has entered into exclusive negotiations to acquire Locarest, based in Alsace, France, a 66-branch network with 2010 revenue of €48 million (about U.S. $69 million). Locarest is particularly strong in eastern France, especially in the construction and landscaping markets.

Locarest’s management group, led by Pascal Burg, will continue to manage Locarest, the company said.

Loxam said it expects the acquisition to be finalized within several weeks. Loxam, with branches in 11 countries, has a network of 541 branches with 2010 revenue of €702.5 million (about U.S. $1.01 billion).