Roadchef, the motorway services operator, is reportedly set to be put up for sale for c£350m.

Sky News has reported that Delek Group, an Israeli conglomerate with interests in energy, financial services and infrastructure assets, is appointing bankers to oversee an auction of the company.

According to the broadcaster, Delek, which bought Roadchef in 2007, is understood to be keen to take advantage of buoyant financing markets and the recent performance of the business to engineer a sale of the 20-strong group.

Sky News said that investment bank Citi is understood to have been lined up to handle the auction of the business, which includes the flagship Watford Gap services.