Belfast Telegraph

Applegreen ups stake in motorway giant Welcome Break

By John Mulligan

Irish forecourt retailer Applegreen intends to boost its stake in UK motorway service operator Welcome Break to about 70% within about six years, it has emerged. And Applegreen, which has six sites in Northern Ireland, will likely ultimately own it entirely, after sealing a transformational €440m (£392m) deal that will see it initially holding slightly more than 50% of the business.

Applegreen has agreed to buy a 55.02% stake in Welcome Break - which has a portfolio of 24 motorway service stations, two trunk road service areas, and 29 travel hotels under the Ramada and Days Inn brands. They serve 85 million customers a year.

The company is buying the Welcome Break stake from a fund controlled by a small Dutch bank, NIBC. The stake being acquired represents the entire holding in Welcome Break owned by the NIBC fund. The other shareholder in Welcome Break is a London-based investment firm Arjun Infrastructure Partners. Applegreen has three motorway service areas here, and three smaller petrol stations.

Belfast Telegraph

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