BIC Press release: BIC acquires Nigeria's leading Writing Instrument Manufacturer
25 Juli 2019 - 5:40PM
BIC Press release: BIC acquires Nigeria's leading Writing
Instrument Manufacturer
BIC – Press ReleaseClichy
– 25 july
2019
BIC ACQUIRES NIGERIA’S LEADING WRITING
INSTRUMENT MANUFACTURER
BIC announced today that it has signed a
definitive agreement to acquire 100% of Lucky Stationery Nigeria
Ltd (LSNL). The transaction has been reviewed and approved by the
Nigerian Federal Competition and Consumer Protection Commission
(“FCCPC”). The closing is expected end of 2019.
LSNL is Nigeria’s number one Writing Instruments
manufacturer, with approximately 5 million euros in Net Sales and
approximately 30% market share in volume. Its main Writing
Instrument manufacturing facility is currently located in
Ilupeju-Lagos and will be relocated to a new modern facility north
of Lagos in Shagamu.
BIC has been operating in Nigeria for more than
forty years through a distribution partnership with CFAO – Nipen.
LSNL’s brand, product portfolio, and distribution network will
strengthen BIC’s current position in Nigeria.
This acquisition is consistent with BIC’s
continued growth strategy in Africa. Nigeria is the largest economy
and most populous nation in Africa. Nigeria is also number one in
the pens market in the region, selling approximately 425 million
items a year, with expected double-digit annual growth within the
next five years.
“After the transfer of HACO’s Kenyan Stationery
business to BIC last year, the acquisition of LSNL is another key
accelerator for BIC’s growth in Africa. This is our fourth facility
in Africa, complementing BIC’s Writing Instrument manufacturing
footprint in the fast-growing West African region, making BIC the
clear number one Stationery manufacturer in one of the most dynamic
and promising consumer markets in the world,” said Gonzalve Bich,
BIC Chief Executive Officer.
Prakash Hathiramani, Director of LSNL stated,
“The management of LSNL congratulates BIC on their investment in
Nigeria’s market-leader in Writing Instruments. BIC’s
investment in Nigeria will ensure the continuity and success of
LSNL, as well as provide the business and its stakeholder's with
new avenues and opportunities for growth.”
Contacts
Sophie Palliez-Capian – VP, Corporate Stakeholder
Engagement - sophie.palliez@bicworld.com |
Investor Relations Contact: +33 1 45 19 52 00 |
Press Contacts |
Michèle Ventura michele.ventura@bicworld.com |
Isabelle de Segonzac : +33 1 53 70 74
85isegonzac@image7.fr |
For more information, please consult the corporate website:
www.bicworld.com
2019-2020 Agenda - All dates to be
confirmed
First Half 2019 results |
31 July 2019 |
Webcast |
Third Quarter 2019 results |
23 October 2019 |
Webcast |
Full Year 2019 results |
12 February 2020 |
Meeting and Webcast |
First Quarter 2020 results |
23 April 2020 |
Webcast |
2020 AGM |
20 May 2020 |
Meeting |
About BIC
BIC is a world leader in stationery, lighters
and shavers. For more than 70 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 and is a trademark registered
worldwide for identifying BIC products which are sold in more than
160 countries around the world. In 2018, BIC Net Sales were 1,949.8
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 A list and
CDP “Supplier Engagement rating Leader board”, Euronext Vigeo –
Eurozone 120, Euronext Vigeo – Europe 120, FTSE4Good indexes,
Ethibel Pioneer and Ethibel Excellence Investment Registers,
Ethibel Sustainability Index (ESI) Excellence Europe, Stoxx Global
ESG Leaders Index.
- BIC-Acquisition of Lucky Stationery Nigeria Ltd
_25-JUL-2019
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