CNA’s new chapter to put focus on books
Edcon, the owner of Jet and Edgars, is selling the iconic newsagent as it is not part of its core clothing, beauty and home categories
Former Exclusive Books CEO Benjamin Trisk, who is part of a consortium that bought CNA from struggling Edcon, plans to sell fiction and other books written in African languages, in a bid to revive the stationery retailer’s fortunes.
Trisk and CNA’s new management staff will own 40% of the retailer, while JSE-listed Astoria Investments will hold 60%. The new owners want to capitalise on the retailer’s countrywide footprint of 167 stores and 125-year-old brand.