Tuesday, September 29, 2020
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Ithmar unit brings French chain to UAE

Dubai-based Gourmet Catering and Hospitality Services, the food and beverage division of Ithmar Capital, has launched the UAE’s first outlet of Lenôtre Paris a leading French restaurant chain and part of Accor Group.

The UAE’s first Lenôtre Paris on Jumeirah Beach Road is the brand’s 50th outlet in 12 countries including Saudi Arabia, Kuwait and Qatar and marks the start of Ithmar division’s expansion, which will see four Lenôtre Paris outlets coming up in the country in two years.

Ithmar Capital, a private equity management company, invests primarily in Gulf companies, or in companies for which the Gulf region represents a significant market for development.

Its first fund was laun-ched in October last year with an initial capital of Dh256 million and currently comprises seven companies across healthcare, education, engineering and food and beverage franchising sectors.

Gourmet Catering and Hospitality Services, set up in July last year, is Ithmar Capital’s first foray into the food and beverage sector and the latest edition to its Fund 1 business portfolio.

Faisal Bin Juma Belhoul, founder and managing partner of Ithmar Capital, said: “With a rapidly expanding hospitality sector in the UAE, it makes good business sense to invest in a company that takes advantage of current trends.”

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