Foodservice company Compass Group is preparing the sale of its travel concessions arm Select Service Partners.

Compass Group put the arm, which includes c-store chain Whistlestop, Moto service stations and M&S’s Simply Food stores under franchise, up for sale last month and is estimated to sell for £1bn.

More than 40 private equity groups and trade buyers including Australian company Macquarie, French contract catering group Elior and People’s Restaurant which bought Little Chef from Compass in 2002 are rumoured to be interested.