SSP Group snaps up German rival Stockheim

SSP Group, the food and drink concession operator, has agreed to acquire part of German rival Stockheim for an undisclosed fee.

The FTSE 250 group agreed to acquire Stockheim's Cologne business and Stockheim Systemgastronomie, which together operate 25 food and beverage outlets in airports and railway stations, including at Düsseldorf and Cologne.

In the last calendar year the Stockheim businesses in question generated sales of roughly €30m.

The agreement, which is subject to prior clearance by the German competition authorities, is expected to complete in early 2018.

SSP's chief executive for Germany, Switzerland, Austria and France, Oliver Dörschuck, said: "We are delighted to have acquired Stockheim. The business has some great brands operating in some key locations across Germany."