Antin Infrastructure Partners II agrees to acquire Roadchef, a leading UK motorway service area operator11 September 2014
Antin Infrastructure Partners is pleased to announce that it has entered into an agreement to acquire Roadchef.
Roadchef is one of the three major operators of Motorway Service Areas (“MSAs”) in the UK with 28 sites serving 44 million visitors each year. MSAs are the only permitted and signposted commercial presence on motorways. Over 80% of visits are driven by the satisfaction of essential needs. Roadchef generates revenues by “converting” two-thirds of its visitors into customers of its food & beverage, retail, fuel and other commercial offers. The introduction of popular brands has increased the number of visitors and conversion rates over the past few years.
Following bilateral and exclusive negotiations, Delek Group has agreed to sell its 100% interest in Roadchef.
Mauricio Bolaña, the Partner who led the transaction, noted: “We had long identified UK MSAs as a target sector due to the essential nature of the services they provide and their geographically diverse strategic locations. These infrastructure characteristics together with a proven resilient financial performance throughout the economic downturn make Roadchef an attractive investment opportunity for our fund”.
Mark Crosbie, Managing Partner of Antin Infrastructure Partners, commented: “We are delighted to have acquired Roadchef, a business where we have identified significant value creation opportunities. We are looking forward to working closely with its experienced management team in growing the business and creating value for all stakeholders”.