SSP
Group, a leading operator of food and beverage outlets in travel
locations worldwide, has agreed to create a new joint venture with
Indonesian food and beverage business PT
Taurus Gemilang (TG). SSP will own 60% of the new company, with TG
owning the remaining 40%. The move marks SSP’s entry into Indonesia for
the first time and is the latest step in the company’s ongoing expansion
across the high-growth Asia Pacific region.
As
a result of the new joint venture, SSP will operate 13 outlets, 12 of
which are located at I Gusti Ngurah Rai International Airport in Bali,
and one at Juanda
International Airport in Surabaya. These are currently a mix of TG’s
own brands, as well as a number of local franchised brands, including
Made’s Warung Balinese restaurant and coffee brand Revolver.
Commenting
on the deal, Patrick Coveney, CEO of SSP Group, said; “The Asia Pacific
region is strategically important for us and a key geography in our
plans for
growth. This new deal will provide us with an excellent
foundation to develop our operations in Indonesia and will put us in a
highly competitive position to secure future new
business. The local knowledge of the TG team coupled with our
international experience will make us a significant force in this
fast-growing market.”
Budi
Purnomo, CEO of TG, added; “At TG, our vision is to provide memorable
experiences by showcasing the best of Indonesian hospitality. This next
chapter in our
history will enable us to continue to deliver an outstanding offer to
passengers flying to and from Indonesia that enhances the country’s
reputation as a truly remarkable destination.”
The new JV
is expected to assume operations of TG’s current units at Bali and Surabaya later this summer,
subject to obtaining the necessary consents. The management team and colleagues based in those locations will transfer to the new company upon completion of the deal.
The
world’s fourth most populous country, Indonesia is anticipated to be
the fourth largest aviation market globally by 2039. Currently Indonesia
serves over
150 airports, 14 of which welcome more than three million passengers a
year. In 2019, 39.5m passengers travelled through Bali and Surabaya
airports.