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Ireland’s Applegreen buys stake in UK service station operator for €362mn

Ireland’s largest fuel retailer Applegreen has acquired a majority stake in the UK motorway services operator Welcome Break for €362 million.



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Author: PetrolPlaza Correspondent Daniel Infante Tuaño

The acquisition will add 24 service stations, two trunk road service areas as well as 29 hotels to Applegreen’s portfolio, reports RTE.

Welcome Break, present in 35 locations across the UK, are open 24 hours a day, 365 days a year, and attract around 85 million customers each year, according to Independent.ie.

The transaction will be financed by a new debt facility of €300 million and a proposed equity fundraising of over €100 million.

"I am sure that the combination of the Applegreen Service Area operations in the UK with those of Welcome Break, and combined management capabilities will help build further upon the consistent and strong earnings growth seen by both businesses over the past decade," said Darren Kyte, Managing Director of NIBC Infrastructure Partners and Chairman of Welcome Break Group.

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