INDONESIA. SSP Group has established a joint venture with Indonesian food & beverage business PT Taurus Gemilang (TG). The move marks the global travel restaurateur’s debut in Indonesia’s airport market.
SSP – which will own 60% of the new company, with TG owning the remaining 40% – said the JV is a major step in the company’s ongoing expansion across the high-growth Asia Pacific region.
Under the JV, SSP will initially operate 13 outlets, 12 of which are located at Bali’s I Gusti Ngurah Rai International Airport and one at Juanda International Airport in Surabaya. These venues are a mix of TG’s own brands, as well as several local franchised brands, including Made’s Warung Balinese restaurant and coffee brand Revolver.
In 2019, 39.5 million passengers travelled through Bali and Surabaya airports.
Commenting on the deal, SSP Group CEO Patrick Coveney 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.”
TG CEO Budi Purnomo commented: “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 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. The country is currently home to over 150 airports, 14 of which welcome more than 3 million passengers a year.
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