Roadchef sold to Macquarie Asset Management
Antin is selling Britain's third largest motorway services operator Roadchef to a fund managed by Macquarie Asset Management.
Antin Infrastructure Partners has overseen the group for the last seven years and Sky News estimated the deal to be worth £900m.
Australia-based asset manager Macquarie, which formerly owned Moto, has operated in the UK for more than 30 years and intends to support Roadchef to develop and accelerate the rollout of fast-charging infrastructure for electric vehicles across its estate. Macquarie Asset Management's investment will also enable Roadchef to invest further in its sites, facilities, and partnerships with brands such as McDonald's, Costa Coffee and Leon.
Mark Fox, chief executive of Roadchef, said: "We thank Antin for their significant support over the past years, which enabled us to implement our growth strategy and strengthen our position as a leading UK MSA operator. We are delighted to continue our growth journey with Macquarie Asset Management, who recognise our potential and will continue to invest, grow and build Roadchef."
Roadchef has 30 locations across the UK motorway network, operating 91,000sq ft of catering and 690 hotel bedrooms and serving more than 52 million customers every year. The group's sites feature brands including McDonald's, Costa Coffee, Leon, WHSmith, Spar, Chozen Noodle and Days Inn.
Gordon Parsons, a senior managing director at Macquarie Asset Management, said: "As a key part of the UK's motorway infrastructure, we believe Roadchef has a major role to play in facilitating the transition to net zero. Its extensive network of locations across the country make it well positioned to support the fast-charging infrastructure that is key to the adoption of electric and low carbon vehicles. We look forward to working closely with the management team to develop Roadchef's energy transition strategy and its offering for motorists."
Mark Crosbie, managing partner at Antin, added: "We are proud of the substantial development and strategic transformation Roadchef accomplished during Antin's ownership. We are also grateful for the strong performance of Roadchef's experienced management team and dedicated employees and are confident they will continue to be successful under their new owner."
