After nearly 40 years of franchising the BIC brand, HACO Industries Kenya Ltd has decided to transfer its manufacturing facilities and distribution of BIC products back to multinational parent company SOCIETE BIC.
SOCIETE BIC will take over plant operations in Kasarani as well as distribution of stationery, lighters and shavers in East Africa.The transaction is in line with BIC’s continued growth strategy in Africa as well as HACO Industries growth strategy which aims to diversify its portfolio and presence in Western and South Africa.
“This transaction is tangible proof of BIC’s confidence and belief in Kenya and the growth potential of the region. Until the completion of the transfer, BIC and HACO will continue to work together for the mutual benefit of all stakeholders and the respective businesses to achieve a smooth transition.”Dr. Chris Kirubi Chairman HACO Industries Ltd
The deal comes on the back of the buyout of a 51% stake last year by Dr. Kirubi from Johannesburg Tiger Brands over a disagreement over the company’s strategic direction
“We estimate the regional Stationery market to be around 1.5 billion units annually and growing mid to high single digit. With a strong focus on education, Kenya will be a driving force in the deployment of BIC’s “Writing the Future, Together” sustainable development program, which commits to improving the learning conditions of 250 million children globally, by 2025.” Gonzalve Bich CEO SOCIETE BIC
The transfer process will be completed by 1st January 2019 subject to the Competition Authority of Kenya approval. HACO Industries has a market presence in the entire East Africa including Uganda, Rwanda, Burundi Ethiopia and Tanzania.
