BIC expands in Kenya
| 04 September, 2018
Haco Industries Kenya Ltd and SOCIETE BIC have formally announced their agreement for the transfer of manufacturing facilities and distribution of BIC products to BIC. The definitive agreement will result in the transfer of the manufacturing facilities in Kenya and the distribution of Stationery, Lighters, and Shavers in East Africa from HACO Industries to BIC.
Subject to the Kenyan Competition Authority approval, the transfer is expected to be completed by 1st January 2019. This transaction is in line with BIC’s continued growth strategy in Africa, and the long-term growth plans of HACO Industries, which aims to diversify its portfolio and presence in Western & Southern Africa.
Commenting on the move, SOCIETE BIC Chief Executive Officer, Gonzalve Bich noted: “This is a tremendous opportunity to strengthen BIC’s position in one of the most promising markets for BIC products in the world. BIC has a strong historical presence in Africa; with a solid industrial and distributionfootprint, this continent is a key asset for BIC’s development.”