Login

Lost your password?

Sign Up

Register

Login

Login

Lost your password?

Register

Wednesday, August 10, 2022
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion

Africa's
Investment
Gateway

The Exchange
  • Login
  • Register
Subscribe
This Month's Edition
Previous Editions
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
LOGIN
BIC continues African growth with acquisition of Nigerian outfit

A BIC road show

BIC continues African growth with acquisition of Nigerian outfit

LSNL is Nigeria’s number one Writing Instruments manufacturer, with approximately 5 million euros in Net Sales and approximately 30% market share in volume

by Kimani Chege
July 29, 2019
in Mergers & Acquisitions, Nigeria
0
Share on FacebookShare on LinkedIn

Societe Bic, the global owner of the Bic brand has announced 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.”

BIC estimates 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.

In 2017, BIC Net Sales were 2,041.4 million euros. The Company is listed on “Euronext Paris” and is part of the SBF120 and CAC Mid 60 indexes.

Read also: Kenyan multibillionaire surrenders Haco Stationery business to French Bic

Tags: BICLucky Stationery Nigeria Ltd (LSNL)NigeriaPen manufacturingSOCIETE BIC

STATE OF ECONOMY - GET THE REPORT

ASSESSING EAST AFRICA

Loading...

Kimani Chege

Related Posts

Africa

Unlocking Africa’s gas riches: Nigeria-Morocco gas pipeline a game changer

July 4, 2022
Africa

Powering Africa: Renewables safest bet for sustainable future

July 4, 2022
enaira binance www.theexchange.africa
Countries

How Africans will benefit by investing in Crypto and not CBDCs

May 24, 2022
Next Post
The Mbagathi Way Java House outlet is the 65th branch in Nairobi, Kenya. It is part of an aggressive regional and international expansion strategy by Java House. www.theexchange.africa

More choice for Kenyans as Java opens another branch

Cameroon’s Nachtigal Hydropower project. The country has an ambitious goal to increase electricity coverage and reduce power outages. www.theexchange.africa

Cameroon’s ambitious goal to increase electricity coverage, reduce outages

Tanzania's East Africa Fruits gets top grading certification

Tanzania's East Africa Fruits gets top grading certification




This months edition

Features

The leaders of the BRICS nations meet at the group’s summit in Osaka in June 2019. Concerns are India might pull out of the group over tensions with China. (Photo/ Reuters)
Countries

What does Russia’s invasion of Ukraine mean for Southern Africa?

by Albert Nangara
August 3, 2022
0

When the United Nations General Assembly voted overwhelmingly on March 2 to condemn Russia’s invasion of Ukraine, African countries accounted...

Read more
Logistics and transport startups will play a major role in enabling Africa’s largest free-trade area (Photo/ Quartz Africa)
Industry and Trade

Trends shaping the future of logistics in African markets

by Albert Nangara
August 3, 2022
0

Digitization of logistics and compliance with sustainability policies will shape the future of logistics in African markets. Digitalization involves the...

Read more
Biometric systems are expected to lead the market for airport security systems in growth over the next five years, as the market increases at an 8 per cent CAGR through 2024 (Photo/ Biometric Updates).
Tech & Business

Machine learning, Artificial Intelligence changing Africa’s Airports

by Albert Nangara
August 2, 2022
0

According to Frontiers, AI has been recognized to have a wide potential to reduce human workload or increase human capabilities...

Read more
www.theexchange.africa/
Investing

ESG global mining and the social license

by Laurence Sithole
August 2, 2022
0

In terms of achieving net zero carbon emissions, the largest mining companies in the world have several options – each...

Read more
Some of the group members learning the components of the new briquette making machine. The machine can produce 500 briquettes per day. www.theexchange.africa
Investing

Reusable, organic charcoal: Answer to Africa’s cooking fuel challenges

by Njenga Hakeenah
August 2, 2022
0

United for Green is working to ensure that Africans do not get to these extremes. By empowering women, the plan...

Read more

News

Banking
Industry & Trade
Investing
Money Deals
Regional Markets
Tech & Biz
Opinion

Countries

Kenya
Tanzania
Uganda
Burundi
Rwanda
Southern Africa
Ethiopia

More

My Account
Contact us
Advertise
About us
Help Center

Subscribers Center

E-paper
Premium Stories
Education Rates
Corporate Subscriptions
Weekely Newsletter

  • My account
  • About us
  • Advertise
  • Contact
  • Privacy Policy
  • Refund Policy – The Exchange
  • Sitemap

No Result
View All Result
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
  • Login
  • Sign Up
  • Cart

© 2021 The Exchange - Powered by MediapixManaged by Supported by Digihandler,

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In