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Caterer & Hotelkeeper - 3 Apr 08

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APPIA EARNS A NEW WELCOME

Motorway services provider Welcome Break has been sold by Investcorp to Appia Investments for an undisclosed sum, thought to be in the region of £500m.

With 28 sites, Welcome Break is the second-largest motorway services provider in the country behind Moto, and provides catering and lodging under the Days Inn brand.

As part of the deal, chief executive Rod McKie and financial director Nick Wright will continue in their roles.

Phil Peters, executive director at Challenger Management Services, which advised Appia on the deal, said: "We have a high regard for the Welcome Break management team and the significant operational improvements they have delivered in the past few years."

Welcome Break was bought by Bahraini private enquity group Investcorp for £476m in 1997.