06/10/2024
The Exeter Informant
‘Serial Entrepreneur’ Tees Up Bid for Reading Country Club
October 6, 2024
For 57 years, Jack Gulati has made his mark as a “serial entrepreneur.” In that time, he has built, bought and sold 44 companies worldwide, and, as we learned on Sept. 27, he’s not done yet.
Gulati, along with his sons—David, Charles, and Michael—have submitted a $4.805 million bid to acquire the Reading Country Club.
The bid is for the 134-acre property, which has an 18-hole golf course designed by Alexander Findlay and a clubhouse with banquet halls, used for family, community, and corporate events. The facility is listed on the National Register of Historic Places, and is fully equipped to operate as a restaurant.
The Gulati bid, through their company, DCM Investments, LLC, will go before the board of supervisors for possible action on Monday, October 14, at their regular meeting.
Gulati, who owns Stokesay Castle and Knight’s Pub, and, for a time, the Reading Royals hockey team, has even published a book titled “Serial Entrepreneur,” available on Amazon.
Who is Jack Gulati?
Born in India in 1942, Gulati moved to the United States with his family in 1958. He attended high school in New York City before enrolling at the University of Minnesota, where he earned a Bachelor of Science degree in Mathematics.
Following in the entrepreneurial footsteps of his father and grandfather, Gulati acquired his first business in 1968 at the age of 26. His companies include Fidelity Technologies Corporation, TeleAlarm Group, Fidelity Investment Corporation, and SafetyCare Technologies, operating both in the United States and Europe.
Gulati also established the Gulati Family Foundation, which distributed $269,100 in grants to various recipients in 2023, according to publicly available tax documents.
During his third attempt at retirement in 2014, the now 82-year-old Gulati on learning that the Reading Royals, the ECHL affiliate of the Philadelphia Flyers, were at risk of leaving Reading bought the team. The following year, he and his sons took over the management of Sunnybrook Ballroom, a renowned banquet and restaurant facility in Pottstown. He bought Stokesay Castle in 2009.
President George H.W. Bush appointed Gulati to the Small Business Advisory Committee of the Federal Communications Commission. He was also a delegate to the 1986 and 1995 White House Conferences on Small Business, appointed by Presidents Reagan and Clinton.
In addition to his business ventures, Gulati has served as chairman of the National Federation of Independent Businesses of Pennsylvania and of the Township Supervisors in Upper Merion Township, Pa. He spent six years on the Board of Trustees of Chestnut Hill College in Philadelphia, which honored him in 2015 with an honorary Doctor of Laws degree.
# #