7th Aug 2015 06:17
LONDON (Alliance News) - SSP Group PLC said Friday it has agreed to acquire 32 bakery outlets in Germany from Wiener Feinbäckerei Heberer GmbH for around GBP5 million in cash.
FTSE 250-listed SSP operates food and beverage concessions in travel locations such as airports, train stations and motorway service stations. It said the bakery outlets sell products in travel locations in Germany, with 30 of them located in railways stations, and two in airports.
The value of the gross assets being acquired is around GBP5 million, and the assets produced a profit of around GBP1 million in 2014.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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