Browsing: Lucky Stationery Nigeria Ltd (LSNL)

BIC continues African growth with acquisition of Nigerian outfit

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 …