British foodservice company the SSP Group has completed the acquisition of Airport Retail Enterprises (ARE), enhancing its portfolio in Australia.
Financial details of the deal, first announced in February 2024, have not been disclosed.
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The move has added 62 outlets across seven major airport hubs Brisbane, Canberra, Gold Coast, Melbourne, Mount Isa, Sydney and Townsville to SSP’s portfolio,
ARE, an Australia-based airport food and beverage operator, reports annualised sales of A$200m ($130.5m).
SSP now operates 100 units across 11 of Australia’s largest 19 airports.
SSP Group CEO Patrick Coveney said: “We’re pleased to have completed the acquisition of ARE, which enhances our presence in the high-growth Asia Pacific region. We have acquired a number of high-quality brands and concepts and gained entry into new prime air locations, which will give us a significant opportunity to drive growth for the group.
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By GlobalData“We look forward to welcoming our new colleagues into the wider SSP team and further enhancing our position as a leading food and beverage operator in a key market.”
The acquisition is in line with SSP’s strategy to accelerate growth in the Asia Pacific region.
SSP aims to leverage the expected growth in both international and domestic passenger air traffic in Australia, which is forecasted to grow annually by 10% from 2023 to 2030.
In April 2024 SSP increased its footprint in Finland by opening four new food and beverage outlets at Helsinki Central rail station, complementing its existing operations in Finnish airports.
The company, in partnership with Berlin Brandenburg Willy Brandt Airport in Germany, also launched new Burger King and Starbucks Coffee outlets in Terminal 1 in March 2024.
