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Compass Group completes sale of roadside and travel catering businesses

16 June 2006 by
Compass Group completes sale of roadside and travel catering businesses

Compass Group has completed the £1.82b sale of its roadside and travel catering businesses, Moto and Select Service Partners (SSP), announced last month.

Travel concessions business SSP, which includes Creative Host Services in the USA, has been sold to private-equity firm EQT.

Motorway services business Moto has gone to a consortium led by Australian bank Macquarie.

The total sale price for the deals was nearly a third more than analysts has predicted, prompting speculation roadside rivals Welcome Break and RoadChef might be tempted to follow suit. Both companies denied this, however.

Today's completion had been dependent on approval from European and US anti-trust bodies, as well as the company's shareholders.

By James Gallagher

Compass sells roadside and travel catering business>>

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