Carrefour Partners with CFAO to Develop Its Banner Through Various Store
Formats in Eight African Countries
BOULOGNE-BILLANCOURT, France -- May 29, 2013
Carrefour (Paris:CA) and CFAO announced today the signature of a memorandum of
understanding to form a joint venture that will be owned at 55% by CFAO and
45% by Carrefour. This venture will benefit from exclusive distribution rights
to develop various store formats in eight countries in West and Central
Africa: 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 will contribute its expertise as a multi-format retailer as well as
the strength of its banner. 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 is a multilocal retailer the second worldwide and the
largest in Europe, with more than 364.900 employees all over the world and
more than 10,000 stores under banner in more than 30 countries.
For over fifty years, Carrefour has been a partner in the day to day lives of
more than 25 million customers in Europe, Asia and Latin America.
The Group combines different store formats - hypermarkets, supermarkets,
convenience stores and cash & carry outlets - constantly adapting to its
customers’ consumption patterns, and offering the lowest prices on a large
range of products and services. With more than 3 billion cash transactions per
year, the Group, through its activities, has an economic, social and
environmental responsibility and is committed to the quality of its products
and the safety of its customers.
For more information please visit our website: www.carrefour.com
CFAO is the foremost specialized retail brand in its main business areas –
vehicle and pharmaceuticals distribution – 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, and had a headcount of 11,400 at end-2012.
In 2012, CFAO generated consolidated revenue of €3,585 million and recorded
recurring operating income of €290.3 million.
CFAO is listed on NYSE Euronext in Paris and is now a 97.8%-owned subsidiary
of TTC (Japan).
Find CFAO on Bloomberg: CFAO: FP and Reuters: CFAO.PA
To find out more, go to www.cfaogroup.com
Photos/Multimedia Gallery Available:
Group Communication: Tel: +33 (0) 1 41 04 26 17
Investor relations: Tel: +33 (0) 1 41 04 26 00
Laurence Tovi, Tel: +33 (0) 1 46 23 58 80
Director of Communications
Sébastien Desarbres, Tel: +33 (0) 1 46 23 56 51
Vice President Financial Communications and Investor Relations
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