Transactions in Canada and the Middle East

SSP Group PLC

14 December 2023

 

LEI: 213800QGNIWTXFMENJ24

14 December 2023

SSP GROUP PLC

SSP to increase its footprint in North America and Middle East through two new transactions: the acquisition of ECG in Canada and a major new contract with Jeddah Airport

SSP Group plc (SSP), a leading operator of food and beverage outlets in travel locations worldwide, today announces two important transactions which will expand its presence in North America and the Middle East, in line with its strategic objective to pivot to these higher growth markets.

Firstly, SSP has acquired Calgary-based ECG Ventures Limited (ECG), which sees it take over the leases of three units at Calgary Airport and an additional two at Edmonton Airport.  The five new restaurant/bars - The Kitchen by Wolfgang Puck, Bistro on the Bow, Belgian Beer Café (two units) and The Canadian Brewhouse - complement SSP's existing business at both airports. This is the second acquisition that SSP has completed in North America in the past twelve months, following the acquisition of the Midfield Concession business, with the final airport transferring in November.

SSP will also be further expanding its presence in Saudi Arabia, having signed a new contract with Jeddah Airport to operate three food and beverage packages, representing a total of 26 units, for an initial duration of between five and seven years.

As part of its offer, SSP will be bringing an exciting mix of international and local proprietary and franchise brands to Jeddah.  These will include the Saudi launch of Jamie Oliver Kitchen, Pizza Express and the London-based gelato specialists Snowflake and Crêpeaffaire. The Jeddah-based Social Kitchen and Social Bakery will bring a sense of place, along with regional favourite Cafe Bateel, as well as the bespoke Falafel & Friends. SSP's own travel brands will include Jaipur (Indian street food), Soul + Grain, Negroni, Ritazza and Camden food co, among others.

Commenting on the news, Patrick Coveney, Group CEO of SSP, said, "Both the acquisition of ECG in Canada and the significant contract win at Jeddah are excellent examples of our business development strategy in action. We are clear that a combination of investing in organic growth and carrying out selective infill M&A will create sustainable long-term value and returns, and North America and the Middle East are important areas of focus for expansion.  We very much look forward to welcoming the ECG team to SSP and to delighting passengers at Jeddah with our carefully selected mix of brands and concepts."

ENDS

CONTACTS

Investor and analyst enquiries

Sarah John, Corporate Affairs Director, SSP Group plc

Sarah Roff, Group Head of Investor Relations, SSP Group plc

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Media enquiries

Rob Greening / Nick Hayns / Elizabeth Kittle

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About SSP

SSP is a leading operator of food and beverage outlets in travel locations worldwide, with c.42,000 colleagues in over 600 locations across 37 countries.  We operate sit-down and quick service restaurants, cafes, lounges and food-led convenience stores, principally in airports and train stations, with a portfolio of more than 550 international, national and local brands. These include our own brands (such as UrbanCrave, which brought the first "street eats" concept to airports in the US and Nippon Ramen, a noodle and dumpling concept in the Asia Pac region) as well as franchise brands (such as M&S, Starbucks and Burger King). 

Our purpose is to be the best part of the journey, and this is underpinned by our aim to bring leading brands and innovative concepts to our clients and customers around the world, with an emphasis on great value, taste, quality and service - using digital technology to boost efficiency. 

For more information, please visit: www.foodtravelexperts.com

 

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