Addleshaw Goddard has strengthened its relationship with Travelodge after advising the budget hotel group on the £52m sale of roadside restaurant chain Little Chef to The People’s Restaurant Group.
As part of the deal, People’s Restaurant acquired the Little Chef brand and 235 restaurants.
Addleshaws first received an instruction from Travelodge in 2004, when the firm impressed with its advice on the property and due diligence aspects of a successful £400m sale-and-leaseback of 135 properties.
Corporate partner Simon Pilling said the firm was now providing almost all property advice to Travelodge following the 2004 deal.
“We had the opportunity to advise on this deal as a result of the relationship we’ve built with Travelodge over the past 18 months,” he said. “It’s a very significant property transaction for us and, given the fact we’re doing most of Travelodge’s property advice, we expect the relationship will continue.”
Pilling, real estate partner Lucy Sturrock and legal director Teresa Kamppari Baker led the 70-strong team of lawyers on the deal.
In addition to the core corporate and real estate lawyers advising Travelodge, Addleshaws’ team included tax, pensions, commercial, environmental and employment lawyers.
DLA Piper Rudnick Gray Cary acted for People’s Restaurant, Taylor Wessing advised Anglo Irish Bank on providing debt funding to the purchaser, Deloitte provided tax structuring advice to Travelodge and KPMG advised the purchaser.