CAURIS CROISSANCE SELLS ITS STAKE IN COMPAGNIE DE DISTRIBUTION DE COTE D’IVOIRE (CDCI)

Cauris Croissance, the second fund managed by Cauris Management, the West African private equity fund management company, confirmed the sale in 2013 of its stake in CDCI, an Ivorian company specialising in mass retailing and with 110 stores across the country. The investment was made in 2007 and generated a cumulative return on investment of 2 times the initial amount invested.

Cauris Management recognized the growth potential of the consumer goods sector in Côte d’ Ivoire in 2007 and played a key role in bringing two institutional co-investors to finance growth. During the investment period, Cauris Management helped implement a new strategy by focusing on high margin products and retail and wholesale trade. Cauris Management has also contributed to institutionalizing the company and improving governance and internal control.

The activities of the Compagnie de Distribution de Côte d’ Ivoire (CDCI)

CDCI targets the middle and low-income classes, who make up the majority of the population. The company offers a wide range of food and non-food products through a network of wholesale, semi wholesale and retail stores.

Viewpoint of Cauris Management at the exit of CDCI’s capital

Noël Eklo, CEO of Cauris Management commented: “There is enormous potential in the mass retail sector in Côte d’ Ivoire and the region. During the holding period and despite the significant losses related to the socio-political crisis in 2011, turnover increased by 128% and the number of stores by 45%. The company’s distribution network is well distributed throughout the Ivorian territory and we believe that this should continue to support growth “.