Carrefour ties joint venture to open multi-format stores in eight countries in Africa
Carrefour has set up a joint venture with a French distributor to develop a range of store formats in eight countries in West and Central Africa.
The partnership with CFAO will be owned at 55% by CFAO and 45% by Carrefour and will have exclusive distribution rights in Cameroon, Congo, Côte d’Ivoire, the Democratic Republic of the Congo, Gabon, Ghana, Nigeria and Senegal.
As the world’s second-largest retailer with a presence in over 30 countries, Carrefour said it will contribute its expertise as a multi-format retailer as well as the strength of its banner in the new venture.
CFAO, with its longstanding local presence in Africa, will bring its thorough knowledge of these markets and a deep understanding of consumer habits to the venture.
The Carrefour Group, the world’s second largest retailer and largest in Europe, operates more than 10,000 stores in more than 30 countries.
The Group operates different store formats – hypermarkets, supermarkets, convenience stores and cash & carry outlets – and processes 3bn cash transactions per year.
CFAO is leading distributor of vehicle and pharmaceuticals in Africa and the French overseas territories.
In Africa, CFAO also distributes equipment, produces and distributes consumer goods and is a provider of a number of technology-related services.
CFAO is present in 37 countries, 32 of which are in Africa and seven in the French overseas territories. In 2012, CFAO generated €3.6bn in sales.
CFAO is listed on NYSE Euronext in Paris and is a 97.8%-owned subsidiary of TTC (Japan).