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NCC acquires majority stake in Grako and Gecko

  10/2/2018 12:00:00 AM

National Catering Company (NCC) acquired a majority stake in facilities management firms Gecko and Grako and plans to expand to Egypt, a top executive said on Tuesday.

“The acquisition of Gecko will add to our range of services in the oil and gas sector in Abu Dhabi, while the Grako acquisition will strengthen our foothold in Dubai and the Northern Emirates,” said Abdullah Mazroui, chairman of NCC during a press conference in Abu Dhabi.

He said there are great opportunities in Dubai as the 2020 expo draws near and they plan to fully capitalise on the opportunities with the acquisition.

National Catering Company, operating since 1995 in Abu Dhabi specialises in industrial and corporate catering, facilities management, retail and food and beverage sector.

Grako, on the other hand specialises in internal and external cleaning and maintenance with operations across the UAE.

Gecko, a sister company of Grako deals with industrial rope access and coating solutions.

Speaking on the acquisition, Mazroui said Grako is a healthy company with a very impressive track record.

“There are many companies both on catering, FM [facilities management] side but going through difficulty with either receivables or delivering contracts.”

Mazroui also said they are planning to expand in Egypt and will open an office in the first quarter of 2019. The company, which had IPO plans postponed for the moment due to market conditions, he added.

Alain Al Tawil, founder and CEO of Grako and Gecko said FM industry will witness massive growth due to increase in construction and tourism contracts estimated at $629 billion [ Dh2.3tr] in the UAE alone, most of which are expected to be completed by 2021.

“While the market is becoming more and more price sensitive, the FM sector has ample opportunity for the coming year.”

The National Investor acted as the financial advisor and lead manager to NCC on the transaction.

THE LEBANON INTERNATIONAL OIL &GAS SUMMIT

  5/2/2017 12:00:00 AM

Trusting that the Lebanon International Oil and Gas Summit (LIOG 2017) will consolidate a position as a leading event in the oil and gas sector in Lebanon, The National Catering Company (NCC) keenly took part in the LIOG’s third summit held Hilton Beirut Grand Habtoor on the 9th and 10th of May 2017. NCC’s management participated in a strong and effective way by keeping abreast of all the latest developments and technology in the oil and gas sector, allowing them to have a distinguished presence where they proudly registered themselves as a forum to exchange ideas and a medium to establish relationships between local and international companies.

The third edition of LIOG summit has been held under the patronage of HE Eng. Cesar Abi Khalil’s Minister of Energy and Water and the collaboration of the Lebanese Petroleum Administration.

The Summit has proved to be a true platform, not only for the exchange of ideas and the establishment of relations between companies but also a platform for meeting experts, decision makers and senior officials from the public and private sectors in Lebanon. It has as well allowed itself to be an opportunity to stabilize future steps and challenges for companies and investors.

The third Oil and Gas summit came to a highly successful close, whereby it welcomed many delegates and participating companies from various countries, featured high caliber presentations and business activities, included interactive sessions and rich discussions, and allowed wide-spread networking opportunities.

Abu Dhabi’s Souq Planet describes itself as the first "digital supermarket" in the Middle East. It is pioneering a self-scanning system where registered customers use a smartphone or store device to scan bar codes as they shop.

  4/4/2017 12:00:00 AM

Abu Dhabi’s Souq Planet describes itself as the first "digital supermarket" in the Middle East. It is pioneering a self-scanning system where registered customers use a smartphone or store device to scan bar codes as they shop.

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A New Souq Planet Branch To Open in Ras Al Khaimah

  9/6/2016 12:00:00 AM

Souq Planet, the first Digital Supermarket in Middle East, is soon to be opened in Ras Al Khaimah . The supermarket will spread over an area of 3000 square meters and will be located near the Sheikh Zayed Mosque.
This step comes as part of the National Catering Company’s expansion strategy and vision to cater to a wider customer base through Souq Planet supermarkets while relying on its long history, personalized service and the real gourmet shopping experience it is known for. Souq Planet Ras Al Khaimah, soon to be opened, promises to maintain a standard of excellence by providing an unmatched array of the best quality products in the UAE together with the best promotions and offers.

The National Catering Company (NCC) Group of Companies will invest approximately Dh50 million to set up its new central production unit, laboratories and warehousing logistics hub, including a new headquarter in a 25,000-square meter plot of land in the Khalifa Industrial Zone (Kizad), under a Musataha agreement signed with Abu Dhabi Ports. 

  1/2/2016 12:00:00 AM

A musataha structure allows a land owner to retain the long term ownership of its land. A musataha is a real property right (right in rem) which allows a party the right to use and exploit (which includes development) land belonging to another party for a period of up to 50 years, renewable once by mutual consent (or as agreed contractually) for a further period of up to 50 years. The new plant will allow NCC to further expand on its food processing business and its catering service provisions offered to government and private organizations predominantly within the local market, ranging from oil and gas companies to labor cities, as well as Engineering, Procurement and Construction (EPC) contractors.

The National Investor (TNI) has led a consortium of Abu Dhabi-based investors in the acquisition of a 50 per cent equity stake in National Catering Company (NCC), a private industrial catering and facility management businesses in the UAE, it said in a press statement.

  1/2/2015 12:00:00 AM

The acquisition value was not disclosed by the companies.
NCC, which was established in 1990 and underwent a management buyout in 2000, operates in the fields of industrial catering and facilities management. 
The company operates supermarkets, cafés and diet management services under the brand names Souq Planet, Lavanda and Slim’n  Lite, respectively. It serves a wide range of customers in the oil & gas, construction, healthcare and government sectors, and is a market leader in most of its segments.
It has also expanded into Kuwait and more recently into Yemen.
NCC has grown its revenues more than nine-fold from 2006 to 2013, at a compounded annual growth rate of 36.2 per cent. The firm employs over 6,000 employees from 150 nationalities.
It currently claims over 40 contracts coupled with a back-log pipeline in excess of Dh1.1 billion.
“We expect the company to continue to capture market share in the expanding oil & 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,” said Abdullah Mazrui, Chairman of TNI.
“From the beginning, our objective was to diversify our shareholder base and prepare the company for a potential listing over the medium term,” said Hany Abdel Noor, Managing Partner of NCC.
“We are using favorable market conditions to expand our operations geographically as well as to diversify our sector clientele. We are continuously striving to participate in the country’s growth areas such as the upcoming nuclear, railway and armed forces projects in line with the Abu Dhabi vision of 2030, in addition to expanding our presence in Dubai ahead of the Expo 2020,” said Tarek el Goweiny, Group CEO.
TNI and its partners have affirmed their support of NCC through the upcoming growth phase, which may include organic or inorganic growth opportunities to further develop the business.