PARIS — Setting its sights on effervescent economies in west and central Africa, Carrefour SA is partnering with trading company CFAO to develop various store formats in eight countries on the continent.
This story first appeared in the May 30, 2013 issue of WWD. Subscribe Today.
The world’s second-largest retailer behind Wal-Mart Stores Inc. said Wednesday it has signed a memorandum of understanding to form a joint venture that will be owned 55 percent by CFAO and 45 percent by Carrefour.
The entity will hold exclusive distribution rights in Cameroon, Congo, Ivory Coast, the Democratic Republic of Congo, Gabon, Ghana, Nigeria and Senegal.
Carrefour operates more than 10,000 stores — supermarkets, hypermarkets, convenience stores and cash-and-carry outlets — in more than 30 countries.
CFAO is mainly specialized in automotive and pharmaceutical businesses in Africa and French overseas territories.