SSP Acquires Airport Retail Enterprises: Expanding in Australia

SSP has acquired Australian airport food-and-beverage operator, Airport Retail Enterprises (ARE), to expand its presence in Australia and focus on the high-growth Asia Pacific air channel. The deal is expected to immediately boost earnings but integration costs may partially offset its contribution to fiscal 2024. The acquisition will grant SSP access to diverse brands and entry into four new Australian airports. The deal is set to be finalized by the end of June. Analysts view the move positively and expect market response to be favorable.