Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Upper Crust owner SSP plans £2bn float

Upper Crust owner SSP plans £2bn float

SSP, the fast food giant that owns brands including Upper Crust and Delice de France, is planning a £2 billion flotation.

The company, which owns more than 2,000 train station and fast food outlets, also owns the Millie's Cookies brand and runs concessions for Burger King and Starbucks.

SSP's private equity owner EQT is understood to be planning to offload a 25% stake, raising £450 million to £500 million, valuing the overall company at £2 billion, according to the Telegraph. In its last financial year SSP reported earnings of £153 million on sales of £1.8 billion.

SSP's float would be one of the biggest of a busy year for IPOs and suggests that despite a number of recent deals suffering disappointing debuts, the pipeline of deals coming to market remains robust with TSB and AA also lining up listings.

Leave a comment
Citywire TV
Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Play AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

Henderson International Income trust manager Ben Lofthouse shares his thoughts on recent developments in the tobacco sector in this video.

1 Play Renewable energy: what I found on my solar farm trip

Renewable energy: what I found on my solar farm trip

Renewable energy is attracting a lot of investor interest, so I headed to the UK's largest solar farm to find out more.

Your Business: Cover Star Club

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Nineteen months on from the merger of Quilter Cheviot chief executive Martin Baines says the deal is now paying dividends.

Wealth Manager on Twitter