UK-based SSP Group has signed an agreement to acquire Airport Retail Enterprises (ARE) for an undisclosed sum, Verdict Food Service reported.

With the acquisition, SSP will own all of ARE’s 62 locations in seven Australian airports, which are generating annual sales of approximately $200 million.

This will raise the group’s presence to 100 units across 11 of the country’s 19 largest airports – and one train station.

SSP Group CEO Patrick Coveney said the deal will increase the group’s portfolio of brands and concepts and enable it to enter new prime air locations.

“The Asia Pacific region offers a significant opportunity to build returns and drive growth for the group,” Coveney added. “Our enlarged business in Australia will have the opportunity to become a regional centre of excellence.”

The transaction is expected to be completed by the end of June, pending regulatory clearance and client consents.

SSP Group has been operating in Australia since 2007.

Further reading: How Lotte Duty Free is elevating travel retail with tech and premium brands