Kate Swann, SSP chief executive, said: “SSP is a leader in the fast growing international travel food and beverage market and is focused on the more rapidly growing sectors of air and rail.
“The business is geographically diversified with good representation in the UK, Europe, North America, the Middle East and Asia Pacific.
“The group has built strong relationships with its clients and brand partners, and has established a reputation as an expert in its field.
“An IPO is the appropriate next step for a business of SSP’s calibre, size and international scale and we believe that we are well-placed for life as a listed company.”
SSP operates 1,981 branded food and beverage outlets at 569 travel locations across 29 countries in the UK, Europe, North America, Asia Pacific and the Middle East.
These include 125 airports and 271 railway stations, though it also operates outlets at motorway service areas, leisure locations and hospitals, as well as operating Rail Gourmet, an on-board rail catering business.
Headquartered in London, SSP operates its outlets under concession agreements with clients, which are typically the owners and operators of airports and railway stations.
It serves a million customers daily and employs 30,000 staff.
The airport sector accounted for approximately 51% of revenues in the year ended 30 September 2013, and the railway station sector 42% of revenues in this period.
SSP’s portfolio includes coffee shops, sandwich bars, takeaway restaurants, bars, bakeries, casual and fine-dining restaurants and food convenience/retail outlets, which are tailored for customers in travel environments.
These outlets are operated under more than 300 brands, including partner brands such as Starbucks and Burger King, national brands such as M&S Simply Food, SSP’s own proprietary brands such as Caffè Ritazza and Upper Crust, and bespoke concepts created by SSP in collaboration with clients, brand owners and leading chefs.
For the financial year ended 30 September 2013, SSP reported revenues of £1,827.2m and underlying EBITDA (earnings before interest, taxation, depreciation and amortisation) of £152.7m.
Recently announced results for the six months ended 31 March 2014 saw a 4.6% increase in revenues on constant currency terms relative to the corresponding period in the preceding financial year.