Sky News reports that the owner of Roadchef, one of Britain’s biggest operators of motorway service stations, is preparing to sell the business for about £350m.
Roadchef is owned by the Delek Group, an Israeli conglomerate with interests in energy, financial services and infrastructure assets, which is reported to have appointed bankers to oversee the sale.
Roadchef owns 20 motorway service areas including Watford Gap, a name well-known to motorway drivers across the UK. The service areas include many franchise agreements with brands such as Costa Coffee, WH Smith, and McDonalds.
Delek acquired Roadchef back in 2007and is thought to be keen to take advantage of current positive financial markets.
The most recent available accounts for Roadchef are for 2012, and show turnover of £222 million, with profit of £5.5 million.
Pizza Express
Meanwhile, CityA.M. reports that Pizza Express – along with Ask and Zizzi – may also be being set up for sale.
Owners Gondola Group, which is controlled by the private equity major Cinven, could be floated or sold outright for as much as £900 million – perhaps more, if split into separate units of Pizza Express, Ask and Zizzi.
Gondola, of course, sold Byron for £100 million in 2013.