Motorway service station operator Welcome Break has secured £440m worth of funding to enable the group to expand and revitalise its hotel and retail offering.
The arrangement with Lloyds Bank, as part of a wider banking syndicate, will be used to refinance debt and provide investment across its 27 sites across the UK, where it partners with food brands such as Burger King, Starbucks, Pret a Manger and Tossed.
Welcome Break now intends to extend and rebrand a number of its Days Inn hotels to the Ramada brand, introduce new restaurant and coffee brands, as well as create more drive-through facilities at its service stations. The company currently operates 22 Days Inn and seven Ramada Hotels across its network.
Rod McKie, chief executive of Welcome Break (pictured), said the funding deal will provide "a solid platform" to further grow the business.
"We're making significant investments to improve and enhance the facilities across the Welcome Break portfolio, which includes expanding our hotel offer and bringing new food brands to our service stations across the country."
Steve Lyon, relationship director at Lloyds Bank Commercial Banking, added: "We are committed to supporting ambitious mid-sized firms as they realise their growth ambitions and this package allows Welcome Break to focus on investing for the future."
Founded in 1959, Welcome Break today has an annual turnover of £648m and employs 5,500 staff. It serves around 85 million customers every year.
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