--Activist investor Irenic Capital Management has built a 2% stake in SSP as it plans to boost the food-and-beverage company's profitability, the Financial Times reports, citing unnamed sources.
--The New York based hedge fund wants the owner of Ritazza and Upper Crust to enhance profit margins, arguing that its share price could be worth double its current valuation, the report says.
--Irenic plans to continue buying shares but has yet to outline specific demands despite meeting several times with SSP's management, the FT says.
--Irenic declined to comment, the report says. SSP said: "We are in constant dialogue with all of our investors, and welcome their feedback and views ...We are entirely focused on delivering progress against our clear strategic priorities in order to deliver sustainable growth and returns for all of SSP's stakeholders."
Full story: https://tinyurl.com/mwd3djwm
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
May 02, 2025 02:54 ET (06:54 GMT)
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