BIC : Completion of BIC Graphic strategic review
06 Juni 2017 - 6:01PM
Completion of BIC Graphic
Strategic Review
BIC Group announces today that it
has signed an Asset and Share Purchase Agreement to sell its BIC
Graphic North America and Asian Sourcing operations to H.I.G.
Capital, a global U.S. private equity firm, for 80 million USD
(approximately 71 million EUR[1]). This
includes 70 million USD in cash and 10 million USD through a
six-year subordinated note bearing a 7% per annum capitalized
interest. The closing is expected by 30-June-2017.
On 7 February 2017, BIC had
announced that BIC Graphic Europe will be reporting to the European
BIC Consumer Product management. A plan focused on implementing a
sustainable business model has been approved and will lead to the
discontinuation of Norwood's activity (Hard Goods) in Europe. In
Developing Markets, BIC Graphic operations will report to their
respective country's Consumer Product management.
This completes the strategic
alternatives review, initiated in February 2016, for BIC Graphic,
BIC's Advertising and Promotional Products activity.
| Investor Relations: +33 1 45 19 52 26 |
Press Contacts |
Sophie
Palliez-Capian
sophie.palliez@bicworld.com |
Priscille
Reneaume: +33 1 53 70 74 70
preneaume@image7.fr |
Katy
Bettach
katy.bettach@bicworld.com |
|
For more information, please consult the corporate
website: www.bicworld.com
2017
Agenda (all dates to be confirmed)
| Second
Quarter - First Half 2017 results |
03 August
2017 |
Conference
call |
| Third
Quarter results |
25 October
2017 |
Conference
Call |
BIC is a world
leader in stationery, lighters, shavers and promotional products.
For more than 60 years, BIC has honored the tradition of providing
high-quality, affordable products to consumers everywhere. Through
this unwavering dedication, BIC has become one of the most
recognized brands in the world. BIC products are sold in more than
160 countries around the world. In 2016, BIC recorded Net Sales of
2,025.8 million euros. The Company is listed on "Euronext Paris"
and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part
of the following Socially Responsible Investment indexes:
CDP's Climate A List, CDP's Supplier Climate A List, CDP Supplier
Engagement Leader Board, FTSE4Good indexes, Ethibel Sustainability
Index (ESI) Excellence Europe, Euronext Vigeo - Eurozone 120,
Euronext Vigeo - Europe 120, Stoxx Global ESG Leaders
Index.
[1] 1 EUR:
1.1249 USD (ECB reference rate - 05 June 2017)
BIC_BIC Graphic review
completion_06JUNE2017
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BIC via Globenewswire
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