SSP’s acquisition of US concessions business Midfield will add $100m (£79m) to its top line revenue.
SSP said the move represented “an important step” in its strategy to grow in North America and would give it a presence in over 30 of the 80 largest airports in the US.
The deal will add 40 new units in seven airports including giving it a presence for the first time at Detroit Metropolitan Wayne County, Denver International, Philadelphia International and Cleveland Hopkins International.
It will also expand SSP’s existing presence at Minneapolis St Paul International, San Francisco International and Newark Liberty International.
The acquisition is expected to complete in late summer, subject to all necessary approvals.
Founded in 2002, Midfield Concession Enterprises has a portfolio of airport restaurant brands consistent with SSP’s focus in North America.
The deal also includes a collection of boutique brands.
Patrick Coveney, group CEO of SSP Group, said: “We are delighted to be expanding our presence in North America with entry into four new airports and expansion in a further three through this acquisition. The Midfield business is a strong strategic fit for SSP and is highly complementary to our existing business given the make-up of the brand portfolio and its focus on enhancing the passenger experience. We look forward to welcoming the team and their clients to SSP.”
Michael Svagdis, CEO of SSP America, added: “SSP America is well positioned to pursue ongoing strategic growth, given our investment in developing a talented team of food travel experts who are passionate about bringing a ‘taste of place’ to airports. This acquisition is the latest step in our efforts to expand our presence at a diverse mix of airports across North America.”
