SSP Group plc (SSP) 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."