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SSP Group acquires ARE in expansion of Australian airport presence [Yahoo! Finance]
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Financial details of the deal, first announced in February 2024, have not been disclosed. 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. “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
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