The Moroccan group Retail Holding, which owns Label'Vie, became the majority shareholder of the Compagnie de distribution de Côte d'Ivoire (CDCI) at the end of September.

Retail Holding, a group owning the label'Vie supermarket chain, is expanding into Côte d'Ivoire. According to Jeune Afrique Business +, Yasser Ezzedine, founder and 40% shareholder of compagnie de distribution de Côte d'Ivoire (CDCI), sold his shares to the Retail Holding group at the end of September. CDCI is the second largest food distribution company in Côte d'Ivoire.

The Moroccan group also bought 25% of the shares in THE CAPITAL OF THE CDCI held by the investment fund for Africa Amethis. Retail Holding and Amethis had acquired shares in the capital of CDCI at the end of 2014.

"Thanks to the partnership with Amethis and Yasser Ezzedine, we have managed to begin our expansion in sub-Saharan Africa while continuing our growth in Morocco. We strongly believe in the development potential of modern distribution in Africa," said Zouhaïr Bennani, President of the Retail Holding Group, quoted in the statement published by Amethis on September 27.

"Acquired in 2002 by the Ivorian-Lebanese entrepreneur Yasser Ezzedine, the CDCI is today the number 2 in food distribution in Côte d'Ivoire with a network of 150 stores," said the same source. At the end of 2018, the CDCI had nearly 2,000 employees and a turnover of around 250 million euros.

Retail Holding also owns the Carrefour, Burger King and Kiabi franchises in Morocco.

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