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RoadChef
From Wikipedia, the free encyclopedia
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RoadChef is a company which operates motorway service stations in the UK, which include service stations, retail shops and restaurants.
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According to Google Finance, "RoadChef Motorways is one of the largest Motorway Services Area (MSA) operators in the UK, with 21 sites representing 24% of the market and serving some 60 million visitors each year."[1] RoadChef motorway service areas generally have Costa Coffee and Wimpy. Petrol stations are usually provided by BP and hotels are operated by Premier Travel Inn. In 1998 RoadChef agreed to purchase Blue Boar Group and Take A Break for £80 million and plans to integrate these acquisitions into an enlarged RoadChef Group. RoadChef was itself acquired in May this year for approximately £175 million by MSA Acquisitions Co. Limited, a company financed by Nikko’s Principal Finance Group.
"This deal consolidates RoadChef’s position as the UK’s third largest motorway service area operator. Yesterday we opened a major new RoadChef site at Chester and with these new acquisitions we will be operating 17 sites with 3 further sites under development" said Tim Ingram Hill, chairman and chief executive of RoadChef.
Blue Boar is the fourth largest operator of motorway services areas in the UK with three operational sites and one development site. The Watford Gap site was the first motorway service area to be opened in the UK in 1959 and is one of the UK’s best known sites. The company was originally family owned but in November 1995 was sold to a management team.
Take A Break operates Strensham services on the M5 which is one of the largest sites in the UK and is also believed to have the largest petrol station in Europe. The company was originally developed by Kenning Motor Group plc but was sold to the management in 1994.
"Our objective at the time of the RoadChef transaction was to add value to the company and these acquisitions will provide significant synergies. These include increased purchasing power and head office cost savings as well as more efficient capital markets financing" said a Nikko Principal Investments Limited spokesperson.
An update to ownership matters: Take a Break Strensham has been absorbed by RoadChef. Blue Boar has also become part of the RoadChef business. Interestingly, Blue Boar was one of the first two motorway service area operators, developing Watford Gap in 1959.