Abdul Kader Saadi, managing director of Glee Hospitality Solutions, has announced the buyout of partners’ shares thus making him a controlling stakeholder in the company.

The company, established in early 2010, has carved a niche by creating, developing and operating successful restaurant concepts in the Middle East.

Saadi announced the buyout of the shares of his partner Louay Al Najjar for an undisclosed sum as also the shares of a minority shareholder in the company to raise his stake in the company to 100 per cent. The move will help Saadi to revamp and spearhead the growth strategies of Glee Hospitality to cater to a larger set of consumers in the region, a statement said.

“The buyout of majority stake in Glee Hospitality is a natural progression for the company as we continue to grow in this key market. Our restaurants and their success in the last five years speak volumes about the latent market for good, affordable but high-quality food concepts in the Gulf region. Now is the time to go further into the expansion mode... into new markets and concepts. Our emphasis is on fascinating menus, fresh components, and modern elements of design, both well prepared and worthy personnel, across key markets in the Gulf,” said Saadi.

“Glee Hospitality Solutions is a collaboration of industry experts with broad knowledge and expertise in developing, launching, and operating restaurants and our combined efforts has taken our brand to this level. The new management will further build on this success and maximise our potential to the next growth trajectory,” said Saadi.

The company is eyeing new partners across the GCC, particularly in strategic growth markets such as Qatar and Saudi Arabia, to support its expansion plans in the region. “We are in deliberations with partners across the region as part of our strategic growth – both on the concepts as well as geographical,” added Saadi. - TradeArabia News Service