SSP Group plc, a leading operator of food and drink outlets in travel locations, has agreed to buy part of the Stockheim group, a German-based travel concessions business.
The new acquisition is made up of 25 food and beverage outlets in airports and railway stations, including at Düsseldorf and Cologne with sales in 2016 of approximately €30m.
SSP hopes the deal, which is expected to be completed in early 2018, will strengthen its presence in Germany’s travel catering sector.
Oliver Dörschuck, chief executive of SSP Germany, Switzerland, Austria and France said: “We are delighted to have acquired Stockheim. The business has some great brands operating in some key locations across Germany.”
The purchases continue a successful month for the British multinational firm which last week reported an 8.5% increase in net contract gains for the year along with a 14.8% rise in turnover.