French retail major Carrefour has signed a partnership agreement with CFAO, a distributor and retailer of automobiles and pharmaceutical products, to form a joint venture (JV) as part of plans to expand its presence in Africa.
CFAO will hold a 55% stake and Carrefour will hold a 45% stake in the proposed JV.
The JV will allow Carrefour develop various store formats in eight countries in West and Central Africa. The company will likely open stores under the Carrefour banner in Cameroon, Congo, Cote d'Ivoire, the Democratic Republic of the Congo, Gabon, Ghana, Nigeria and Senegal.
Carrefour's product portfolio includes apparels, food and household products under various banners and brands including 5' Marinopoulos, 8 a Huit, Atacadao, Carrefour, Carrefour Bairro, Carrefour City, Big Savers, Carrefour Premium, Casa & Deco.
The company primarily operates through hypermarkets, supermarkets, hard discount stores, convenience stores, cash and carry stores and also online through an e-commerce website.
CFAO is a specialized retail brand in Africa and the French overseas departments. It operates through 150 subsidiaries and 261 sites.
