Société BIC has announced that it has completed the transfer of Haco Industries Kenya Ltd’s manufacturing facilities in Kenya and distribution of stationery, lighters and shavers in East Africa.
“The transaction was unconditionally approved by the Competition Authority of Kenya on 31st October 2018. As announced on 31st August 2018, this acquisition is in line with BIC’s continued growth strategy in Africa, one of the most promising markets for BIC products in the world,” the French firm said in a statement.
The amount Haco was paid in the transaction was not disclosed when it was first announced in August last year. The deal brings to an end nearly 40 years of Haco’s BIC franchise that saw it manufacture and sell branded stationery, lighters and shavers.
Completion of the deal means BIC has acquired Haco’s semi-automated production plant located in Kasarani as part of the transaction Kirubi said will give it an opportunity to diversify and grow in the regional markets.
“My success is Kenya’s success and after nearly 40 years of fruitful collaboration with BIC, and having built the business to become Kenya’s number one stationery manufacturer and distributor, this transaction is tangible proof of BIC’s confidence and belief in Kenya and the growth potential of the region,” Kirubi said in a statement at the time.
The announcement came as BIC announced it is committed to becoming more agile, productive and consumer-centric as it builds on it history of success and to meet the rapidly-evolving needs of consumers globally.
“While our mass production capability, brand equity, and international footprint remain core strengths, an enhanced entrepreneurial and innovative approach to operations will further our performance. Creating value for all stakeholders also requires that the organisation develop capabilities that fully leverage the power of the brand – not only in existing markets, channels, categories, and business models but also in new ones. Ultimately, driving productivity and increasing efficiency will free up resources to reinvest in future growth,” it said in a statement.
The firm said it will seek to advance it global, flexible and cost-effective production model by optimizing procurement and other processes across our supply chain; strengthen its global brand leadership by innovating at the pace that consumers evolve, based on real-time insight about their behaviours and needs; drive value growth by sharpening our commercial operations and developing ‘Routes-to-Market’ to become an omnichannel specialis, improve the effectiveness of its support functions — specifically Finance, HR, and IT — while expanding capability and fluidity of operation and support talent development programmes that enhance skills and capabilities across the organisation.
BIC said a dedicated team is conducting a thorough review of its organisation to develop an action plan that will make these goals a reality and willl share the outcomes of this review during the first quarter of 2019.
READ: EDUCATION CS PLAYS TOUGH ON FORM ONE ADMISSIONS
“We must reimagine BIC so that we are fully able to address today’s challenges and opportunities, as well as tomorrow’s. Being agile, integrated and innovative is a short-term pre-requisite for our future growth, sustained profitability and cash generation. I’m fully confident in the ability and engagement of our teams to put these foundational capabilities in place, said Gonzalve Bich, BIC Chief Executive Officer.
