BIC to sell its BIC Graphic North America and Asian Sourcing operations
| 07 June, 2017
BIC Group has signed an 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).
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 Market s, 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.