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Thu 11 Dec 2014 02:07 PM

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Abu Dhabi investors acquire stake in supermarket chain

National Catering Company to expand beyond its Abu Dhabi, Northern Emirates stronghold

Abu Dhabi investors acquire stake in supermarket chain
Iraq supermarket. (Getty Images)

A consortium of investors, led by Abu Dhabi’s The National Investor (TNI), has acquired a 50 percent stake in the company behind Abela Supermarkets, in what’s believed to be the first step towards a stock listing.

The investment banking group, which recently become the second company to have been listed on Abu Dhabi Securities Exchange as a private joint stock company, has invested in National Catering Company (NCC), making its first foray into the food services sector.

TNI intends on expanding NCC beyond its current stronghold of Abu Dhabi, Northern Emirates to other emirates in the country.

“We expect the company to continue to capture market share in the expanding oil and gas onshore and offshore industrial catering market in Abu Dhabi, benefit from the continued increase in construction activity in the UAE, and replicate its successful business model across the GCC,” Abdullah Mazrui, the chairman of TNI said.

As well as the Abela supermarket brand, NCC operates in the fields of industrial catering and facilities management, as well as cafes (Souq Planet and Lavanda) and diet management services (Slim'n Lite).

NCC has grown its revenues more than nine-fold from 2006 to 2013, at a compounded annual growth rate of 36.2%. It boasts over 40 contracts in hand today coupled with a back-log pipeline in excess of AED 1.1 billion.  The company employs over 6,000 employees from 150 nationalities.  

TNI’s current investments include Colliers International, a property advisory firm, Mafraq Hotel, a four-star property on the outskirts of Abu Dhabi, Knightsbridge Global Security, a security firm, L’azurde, a gold and jewellery manufacturer, and Dubai Contracting Company, a development contractor.

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