May 21 2024  |  Retailers

SSP Group to enter Indonesian market through new joint venture

By Hibah Noor


SSP Group has created a new joint venture (JV) with Indonesian food and beverage business PT Taurus Gemilang (TG).

SSP will own 60% of the new company, with TG owning the remaining 40%. The move marks SSP’s entry into Indonesia for the first time and is the latest step in the company’s ongoing expansion across the high-growth Asia Pacific region.

As a result of the new joint venture, SSP will operate 13 outlets, 12 of which are located at I Gusti Ngurah Rai International Airport in Bali, and one at Juanda International Airport in Surabaya. These are currently a mix of TG’s own brands, as well as a number of local franchised brands, including Made’s Warung Balinese restaurant and coffee brand Revolver.

Patrick Coveney, CEO of SSP Group, 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.”

Budi Purnomo, CEO of TG, added, “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 new 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. Currently Indonesia serves over 150 airports, 14 of which welcome more than 3 million passengers a year. In 2019, 39.5 million passengers travelled through Bali and Surabaya airports.

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