BIC Acquires Djeep to Enhance its Leadership in the Global Pocket Lighters Market
16 Juni 2020 - 5:45PM
BIC Acquires Djeep to Enhance its Leadership in the Global Pocket
Lighters Market
FOR IMMEDIATE RELEASE
BIC Acquires Djeep to Enhance its
Leadership in the Global Pocket Lighters Market
Clichy, France -16 June 2020 - BIC announced
today that it has signed an agreement to enter exclusive
negotiations to acquire Djeep for 40 million euros, and a deferred
consideration based on Djeep future sales growth1. This acquisition
project aims at strengthening BIC's position in the pocket lighters
market and offers substantial growth opportunities in Europe and
North America. Closing of the acquisition is expected during the
third quarter of 2020.
Founded in 1973, Djeep is one of the main manufacturers of
quality lighters and operates in Brittany, France. It achieved 14
million euros in Net Sales in 2019, mostly in Europe. Djeep also
distributes its products in the U.S., Latin America, Middle East,
Africa, and Asia. It has become a key supplier to the decorated
lighters market segment thanks to its large tank shape.
"The acquisition of Djeep will strengthen BIC's leadership in
safety-compliant branded pocket lighters. With their unique shape,
Djeep lighters are a strong addition to BIC's existing portfolio.
The combination of Djeep's creative product design and on-demand
production skills with BIC's iconic lighters and long production
runs model will expand both companies' innovation, marketing, and
global manufacturing capabilities." noted Gonzalve Bich, BIC Chief
Executive Officer.
This acquisition will:
·Sustain growth by
broadening BIC's product portfolio
Djeep lighters are renowned for their distinctive patented
design that includes a large tank shape, flat push button, and
high-quality sleeve design. Their compelling visual impression
provides marketing opportunities in-line with BIC's trade-up
strategy and focus on personalization, adding new revenue
streams.
·Enhance BIC's
high-quality and safety consumer value proposition
As it is the case for BIC, consumer safety has always been the
top priority for Djeep management. As a result, this acquisition
will strengthen BIC's leadership in safety-compliant branded pocket
lighters.
·Create long-term
value through operational and commercial synergies
Djeep operational margins are close to BIC Lighter category’s
level, and the combined strengths of Djeep and BIC will generate
synergies, generating distribution and profitable growth
opportunities for both in Europe, and North America. In addition,
both organizations will be able to expand their product
portfolios.
ABOUT BIC
BIC is a world leader in stationery, lighters, and shavers. For
more than 75 years, the Company 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. Today, BIC products are sold in more than 160 countries
around the world and feature iconic brands such as Cello®, Conté®,
BIC FlexTM, Lucky Stationery, Made For YOUTM, Soleil®, Tipp-Ex®,
Wite-Out® and more. In 2019, BIC Net Sales were 1,949.4 million
euros. The Company is listed on "Euronext Paris," is part of the
SBF120 and CAC Mid 60 indexes and is recognized for its commitment
to sustainable development and education. It received an A-
Leadership score from CDP. For more, visit www.bicworld.com or
follow us on LinkedIn, Instagram, Twitter, or YouTube.
CONTACTS
Sophie Palliez-Capian – VP, Corporate Stakeholder
Engagement |
Investor Relations Contact: |
Press Contacts |
Sophie Palliez-Capian + 33 6 87 89 33
51sophie.palliez@bicworld.com |
Albane
de La Tour d’Artaise + 33 7 85 88 19 48
Albane.DeLaTourDArtaise@bicworld.com |
|
Isabelle de Segonzac : + 33 6 89 87 61 39 isegonzac@image7.fr |
2020 AGENDA – ALL DATES TO BE CONFIRMED
First Half 2020 results |
July 29th, 2020 |
Conference call and Webcast |
Third Quarter 2020 results |
October 28th, 2020 |
Conference call and Webcast |
Full Year 2020 results |
February 17th, 2021 |
Meeting and webcast |
1 Pursuant to Section L23-10-1 of the French Code de Commerce
(Hamon Law), the Djeep employees temporarily have the ability to
make an offer to acquire the Company.
- BIC_Djeep Acquisition_Press Release_16JUN20
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