CITYA.M. reports that SSP (Select Service Partners) is preparing for a float this summer, selling shares worth up to £500 million through an Initial Public Offering (IPO).
SSP claims to be the number one operator of food and beverage brands in travel locations worldwide. As The Food Travel Experts, it is the partner of choice at over 140 airports and over 250 rail stations around the globe.
SSP is now led by Kate Swann, formerly Chief Executive of W H Smith, and operates chains from Delice de France to Caffe Ritazza to Upper Crust. It is owned by private equity backers EQT who took it over in 2006; employs 30,000 people; and achieved worldwide revenues of £1.83 billion last year, with earnings of £152.7 million.