Josef Bogdanovich is now the majority shareholder in Hardware & Lumber Limited, the remaining shares of which are being sought for purchase in a mandatory buyout.
He is currently looking to acquire a hotel in the island and is on the verge of launching a new international reggae concert this year.
Bogdanovich wouldn't provide much details about the upcoming event, but he intends for it to dwarf predecessors, while he hinted at global online streaming being a major component of the project.
"We are looking to close a deal within the next few weeks," he said at a sit-down with members of the press on Wednesday.
The hotel he has in mind would fit neatly in his planned expansion into entertainment, which includes the ongoing development of a state-of-the art music studio on Belmont Road in New Kingston, where Carlos CafÈ and Max Brown were located.
Ready to rock and roll
Plus, KLE Group, in which he acquired a 23.2 per cent stake in 2014, finally got approval for its 'Bessa' project - a hotel resort planned for St Mary.
"We are getting ready to rock and roll, as they say," Bogdanovich told journalists.
KLE will also soon see its first Usain Bolt Tracks and Records franchisee open a restaurant in Ocho Rios, while the company is targeting four more sites over the next 12 to 18 months.
"We are investigating New York, London and other European countries as potential locations," he added.