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Upper Crust owner SSP plans £2bn float
by James Phillipps on Jun 16, 2014 at 07:15
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.
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