Moto completes acquisition of Winchester motorway service area
19 November 2008
By accepting the significant offer from Moto, Roadchef has increased the level of funds which will be invested to roll out the new format initiative, which has proved so successful at Strensham.
The purchase of Winchester MSA is strategically important for Moto because it gives them representation on a motorway where previously it had no presence. Moto plan to invest in the Winchester MSA providing new brands and facilities for customers and staff. Moto expect this investment to provide additional opportunities for the Winchester team.
Commenting, Simon Turl, Chief Executive of Roadchef said,
“Both Roadchef and Moto are delighted to have completed what were amicable discussions. 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”.
“It is also important to acknowledge the benefits this deal will have for my ex-colleagues who worked at the Winchester MSA. Moto is a strong player in the MSA sector and a good home for them. I would like to thank them for all their hard work for Roadchef and wish them well with their future careers”.
Commenting, Tim Moss, Chief Executive of Moto added: “Moto are delighted to add a high quality location to our business, and we look forward to working together with our new colleagues at Winchester to invest in new brands and opportunities.”