BIC Press release: BIC acquires Nigeria's leading Writing Instrument Manufacturer
BIC – Press Release
Clichy – 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 - | |
| Investor Relations Contact: 00 | Press Contacts |
| Michèle Ventura | Isabelle de Segonzac : 85 |
For more information, please consult the corporate website:
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.
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