Moto picks up Roadchef site
Article Date: Nov 28 2008Motorway service station operator Moto Hospitality has expanded its operations on to the M3 after buying a business from a rival firm.
Moto bought the Winchester motorway service area from Roadchef for an undisclosed sum. The deal is strategically important for Moto as it gives the group a presence on a motorway where it has no existing business.
The company now intends to refurbish the property for its customers and staff as well as adding new brands to its offering.
Roadchef will use the proceeds of the sale to continue the roll out of its new format that started at its Strensham site in Worchester.
“Despite these challenging times, I am delighted that we are able to continue our roll out of the new store format and the funds we have raised from the sale of Winchester contribute toward that strategy,” Roadchef chief executive Simon Turl said.
Bedfordshire-based Moto, which includes pension funds and the Macquarie Group among its investors, adds Winchester to its portfolio covering 43 locations and some 6,000 staff.
RoadChef has 26 sites offering self-service restaurants, shops and even accommodation at some of its properties.
