Stock photo.
SSP Group enters JV with Indonesian F&B group PT Taurus Gemilang
SSP Group will own 60% of the new company created through the JV.
SSP Group has entered into a joint venture agreement with F&B group PT Taurus Gemilang.
PT Taurus Gemilang is one of Indonesia’s biggest lounge operators, which manages 11 Executive Lounges at selected Airports, including Jakarta, Surabaya, Bali, Palembang, Pekanbaru and Balikpapan Airport.
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 brands, as well as several local franchised brands, including Made’s Warung Balinese restaurant and coffee brand Revolver.
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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 consent. The management team and colleagues based in those locations will transfer to the new company upon completion of the deal.
