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{{short description|South African retail store chain}}
{{short description|South African retail store chain}}
{{Use dmy dates|date=April 2022}}
{{Infobox company
{{Infobox company
| name = {{unbulleted list|CNA|Central News Agency|Consolidated News Agencies}}
| name = {{unbulleted list|CNA|Central News Agency|Consolidated News Agencies}}
| logo = CNA_logo_ZA.png
| logo = CNA_logo_ZA.png
| type = [[Privately held company|Private]]
| type = [[Privately held company|Private]]
| traded_as =
| traded_as =
| foundation = 1896<ref name="itweb">{{Cite web |url=https://www.itweb.co.za/content/GxwQD71AkGN7lPVo |title=CNA invests R2.2 million in barcode goodies |date=1998-03-04 |website=ITWeb |language=en-ZA |access-date=2018-12-17}}</ref>
| foundation = {{start date and age|1896}}<ref name="itweb">{{Cite web |url=https://www.itweb.co.za/content/GxwQD71AkGN7lPVo |title=CNA invests R2.2 million in barcode goodies |date=1998-03-04 |website=ITWeb |language=en-ZA |access-date=2018-12-17}}</ref>
| founder = Michael Davis and Albert Lindbergh
| founder = Michael Davis and Albert Lindbergh
| location_city = [[Johannesburg]]
| location_city = [[Johannesburg]]
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| industry = [[Retail]]
| industry = [[Retail]]
| products =
| products =
| services = stationary retail
| services = stationery retail
| revenue = R2 billion (2015)<ref name="edcon2015">{{Cite web |url=http://www.edcon.co.za/investors-group.php |title=Edcon - Five Year Group Review |website=www.edcon.co.za |access-date=2018-12-17}}</ref>
| revenue = R2 billion (2015)<ref name="edcon2015">{{Cite web |url=http://www.edcon.co.za/investors-group.php |title=Edcon - Five Year Group Review |website=edcon.co.za |access-date=2018-12-17 |archive-date=27 July 2020 |archive-url=https://web.archive.org/web/20200727211746/http://www.edcon.co.za/investors-group.php |url-status=dead }}</ref>
| operating_income = R614 million (2015)<ref name="edcon2015" />
| operating_income = R614 million (2015)<ref name="edcon2015" />
| net_income = R35 million (2015)<ref name="edcon2015" />
| net_income = R35 million (2015)<ref name="edcon2015" />
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== History ==
== History ==
Founded in 1896 to sell newspapers in Johannesburg by using newspaper delivery boys on foot and bicycles, CNA initially focused on selling ''[[The Star (South Africa)|The Star]]'', ''[[The Standard (South Africa)|The Standard]]'' and the ''[[Diggers News]]'' newspapers. A breakthrough for the company came in 1902 when ''[[The Argus (South Africa)| The Argus]]'' and the ''[[Cape Times]]'' newspapers granted a contract to the company to publish all of their newspapers. By 1904 the company had stores across South Africa and continued to expand to meet demand for news during [[World War&nbsp;I]]. The company was floated on the [[Johannesburg Stock Exchange]] in 1903 to raise £120,000<ref name="cna history">{{Cite web |url=http://www.davisology.org.uk/showmedia.php?mediaID=48 |title=Central News Agency history |access-date=2018-12-17}}</ref> (equivalent to £129,500,000 in 2017 based on its economic share).<ref name="mw">{{Cite web |url=https://www.measuringworth.com |title=Relative Values - UK £ |date=2018-12-17 |access-date=2018-12-17}}</ref>
Founded in 1896 to sell newspapers in Johannesburg by using newspaper delivery boys on foot and bicycles, CNA initially focused on selling ''[[The Star (South Africa)|The Star]]'', ''[[The Standard (South Africa)|The Standard]]'' and the ''[[Diggers News]]'' newspapers. A breakthrough for the company came in 1902 when ''[[Cape Argus|The Argus]]'' and the ''[[Cape Times]]'' newspapers granted a contract to the company to publish all of their newspapers. By 1904 the company had stores across South Africa and continued to expand to meet demand for news during [[World War&nbsp;I]]. The company was floated on the [[Johannesburg Stock Exchange]] in 1903 to raise £120,000<ref name="cna history">{{Cite web |url=http://www.davisology.org.uk/showmedia.php?mediaID=48 |title=Central News Agency history |access-date=2018-12-17}}</ref> (equivalent to £129,500,000 in 2017 based on its economic share).<ref name="mw">{{Cite web |url=https://www.measuringworth.com |title=Relative Values - UK £ |date=2018-12-17 |access-date=2018-12-17}}</ref>


By 1928 the company was publishing most of South Africa's newspapers. Shortly after World War&nbsp;II the company expanded by opening outlets in [[Rhodesia]] (present day Zimbabwe).<ref name="cna history" /> In 1983 CNA merged with Gallo Africa to form CNA Gallo. The company acquired South African cinema chain [[Nu Metro Cinemas|Nu Metro]] in 1990 and proceeded to fully buy it out in 1992.<ref name="cna history" /> By 1995 the company had 350 stores across South Africa.<ref name="cna history" /> The company was acquired by Wooltru in 1995 for R500&nbsp;million.<ref name="mg1997">{{Cite web |url=https://mg.co.za/article/1997-09-17-wooltru-snaps-up-cna/ |title=Wooltru snaps up CNA |last=Reporter |first=Staff |website=The M&G Online |language=en |access-date=2018-12-17}}</ref>
By 1928 the company was publishing most of South Africa's newspapers. Shortly after World War&nbsp;II the company expanded by opening outlets in [[Rhodesia]] (present day Zimbabwe).<ref name="cna history" /> In 1983 CNA merged with Gallo Africa to form CNA Gallo. The company acquired South African cinema chain [[Nu Metro Cinemas|Nu Metro]] in 1990 and proceeded to fully buy it out in 1992.<ref name="cna history" /> By 1995 the company had 350 stores across South Africa.<ref name="cna history" /> The company was acquired by Wooltru in 1995 for R500&nbsp;million.<ref name="mg1997">{{Cite web |url=https://mg.co.za/article/1997-09-17-wooltru-snaps-up-cna/ |title=Wooltru snaps up CNA |website=Mail & Guardian |language=en |access-date=2018-12-17}}</ref>

⚫
A difficult retail market for stationary and books in the mid to late '90s and internal restructuring put the company under financial pressure.<ref name="iol">{{Cite web |url=https://www.iol.co.za/business-report/economy/wooltru-sold-cna-to-wrong-bidder-779937 |title=Wooltru sold CNA to 'wrong bidder' |date=2002-09-13 |work=Business Report |language=en |access-date=2018-12-17}}</ref> This led to it and its remaining 130 outlets being sold to [[Edcon]] in 2002 for R130&nbsp;million.<ref name="fin24">{{Cite web |url=http://www.fin24.com/Companies/Edcon-confirms-CNA-transaction-20021010 |title=Edcon confirms CNA transaction |date=2002-10-10 |website=Fin24 |access-date=2018-12-17}}</ref>


⚫
A difficult retail market for stationery and books in the mid to late 1990s and internal restructuring put the company under financial pressure.<ref name="iol">{{Cite web |url=https://www.iol.co.za/business-report/economy/wooltru-sold-cna-to-wrong-bidder-779937 |title=Wooltru sold CNA to 'wrong bidder' |date=2002-09-13 |work=Business Report |language=en |access-date=2018-12-17}}</ref> This led to it and its remaining 130 outlets being sold to [[Edcon]] in 2002 for R130&nbsp;million.<ref name="fin24">{{Cite web |url=http://www.fin24.com/Companies/Edcon-confirms-CNA-transaction-20021010 |title=Edcon confirms CNA transaction |date=2002-10-10 |website=Fin24 |access-date=2018-12-17}}</ref>


==References==
==References==
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{{Bain Capital}}
{{Bain Capital}}
{{Witwatersrand companies}}


[[Category:Bain Capital companies]]
[[Category:Bain Capital companies]]
[[Category:Companies based in Johannesburg]]
[[Category:Companies based in Johannesburg]]
[[Category:Retail companies established in 1896]]
[[Category:Retail companies established in 1896]]
[[Category:1896 establishments in South Africa]]
[[Category:1896 establishments in the South African Republic]]



{{SouthAfrica-company-stub}}
{{SouthAfrica-company-stub}}

Latest revision as of 03:59, 6 November 2023

  • CNA
  • Central News Agency
  • Consolidated News Agencies
Company typePrivate
IndustryRetail
Founded1896; 128 years ago (1896)[1]
FounderMichael Davis and Albert Lindbergh
Headquarters
Johannesburg
,
South Africa
Servicesstationery retail
RevenueR2 billion (2015)[2]
R614 million (2015)[2]
R35 million (2015)[2]
OwnerEdcon
ParentEdcon
Websitecna.co.za

Central News Agency or Consolidated News Agencies, better known simply as CNA, is a South African retail chain of stationery and book stores.

History

[edit]

Founded in 1896 to sell newspapers in Johannesburg by using newspaper delivery boys on foot and bicycles, CNA initially focused on selling The Star, The Standard and the Diggers News newspapers. A breakthrough for the company came in 1902 when The Argus and the Cape Times newspapers granted a contract to the company to publish all of their newspapers. By 1904 the company had stores across South Africa and continued to expand to meet demand for news during World War I. The company was floated on the Johannesburg Stock Exchange in 1903 to raise £120,000[3] (equivalent to £129,500,000 in 2017 based on its economic share).[4]

By 1928 the company was publishing most of South Africa's newspapers. Shortly after World War II the company expanded by opening outlets in Rhodesia (present day Zimbabwe).[3] In 1983 CNA merged with Gallo Africa to form CNA Gallo. The company acquired South African cinema chain Nu Metro in 1990 and proceeded to fully buy it out in 1992.[3] By 1995 the company had 350 stores across South Africa.[3] The company was acquired by Wooltru in 1995 for R500 million.[5]

A difficult retail market for stationery and books in the mid to late 1990s and internal restructuring put the company under financial pressure.[6] This led to it and its remaining 130 outlets being sold to Edcon in 2002 for R130 million.[7]

References

[edit]
  1. ^ "CNA invests R2.2 million in barcode goodies". ITWeb. 4 March 1998. Retrieved 17 December 2018.
  2. ^ a b c "Edcon - Five Year Group Review". edcon.co.za. Archived from the original on 27 July 2020. Retrieved 17 December 2018.
  3. ^ a b c d "Central News Agency history". Retrieved 17 December 2018.
  4. ^ "Relative Values - UK £". 17 December 2018. Retrieved 17 December 2018.
  5. ^ "Wooltru snaps up CNA". Mail & Guardian. Retrieved 17 December 2018.
  6. ^ "Wooltru sold CNA to 'wrong bidder'". Business Report. 13 September 2002. Retrieved 17 December 2018.
  7. ^ "Edcon confirms CNA transaction". Fin24. 10 October 2002. Retrieved 17 December 2018.


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