HISTORY
Frédéric Bohn founded CFAO (Compagnie Française de l’Afrique Occidentale) in 1887. The company, which has 125 years of successful history, originates from a shipping company called Établissements Verminck that started its operation in 1945 in Marseille. At that time, it dealt with the trading of oil, rubber, nuts, leather, tobacco, soap and other consumer products. Soon it expanded into Senegal and Sierra Leone and in 1909, it settled in Ghana to develop an important cocoa production.
In 1911, agreements were concluded with Ford Motor Company’s French subsidiary to sell cars and with American company Texaco for petroleum products. Later in the 1920’s and 1930’s, the Group opened branches in Cameroon, Gabon, Togo and Congo becoming -between 1950 to 1980- the sole distributor of many American manufactured goods (agricultural machines, office equipment and elevators)
In the 70’s, CFAO had extended its portfolio of activities over Africa, Europe and U.S. and was generating over €600 million.
In 1990, the group was acquired by Pinault Group (Kering) and started selling pharmaceutical products following the purchase of its main competitor (SCOA) in 1996.
In 2009, PPR sold 50.39% of CFAO’s stake through an IPO and reaped an amount of €806 million. December 3rd marked the return of CFAO on the financial markets after 20 years listed on the Paris Bourse.
In 2012, the Japanese company, Toyota Tsusho Corporation, bought 29.8% of PPR and later reiterated the tender to take over the remaining shares thus controlling 97.91 % of the Group.
DESCRIPTION – KEYS FACTS
CFAO Automotive: 53 internationally renowned brands marketed in 133 points of sale
In 2012, CFAO generated consolidated revenues of €3,6 million with recurring operating income recorded at €269 million and net attributable income at €100.4 million. The free operating cash flow amounts to €125.6m. Its total asset is estimated at €1.19 billion with €818.9 million as total equity. Toyota Toshiba Corporation owns 97.81% of the total shares of CFAO. CFAO is also listed on NYSE Euronext in Paris since 2009.
Revenue by department: 57% CFAO Automotive, 13% Industries, Equipment & Services, 30% Eurapharma.
