BIC Group - Press Release
Clichy - 20 november 2018
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BIC RECEIVES AN OFFER FOR THE ACQUISITION OF BIC SPORT
BIC announces today that it has received an offer from Tahe Outdoors to acquire BIC Sport, its water sports subsidiary, for a total Enterprise Value between 6 and 9 million euros, contingent upon BIC Sport's future financial results. The offer was presented to BIC Sport Works Council.
This transaction, expected to close by 31-December-2018, is consistent with BIC's strategy to focus on its three categories (Stationery, Lighters, and Shavers) in order to reinforce its leadership position in its categories around the world.
Founded in 1979, BIC Sport pioneered the windsurf industry and progressively diversified its activities to include surfing, kayaking, junior racing dinghies and stand up paddleboarding. Headquartered in Vannes (France), BIC Sport sells its products in more than 90 countries, with strong positions in Europe, North America and Asia Pacific.
Tahe Outdoors is one of the largest and fastest growing European manufacturers of paddle sport and kite surfing equipment. Established in 1989, Tahe Outdoors sells its products in 50 countries and manufactures in France, Germany, and Estonia. By leveraging the two companies' strengths, including strong brands, state-of-the-art manufacturing facilities, and solid technological know-how, this transaction will lead to the creation of a recognized worldwide leader in water sports.
Due to BIC Sport's proposed divestiture, BIC may discontinue its writing instrument manufacturing activities located at the Vannes' industrial site. As a result, a reorganization project was presented today to the BIC Ecriture 2000 factory Central Works Council (Marne la Vallée and Vannes facilities). The project specifies closing the BIC Ecriture 2000-Vannes' facility and transferring its current production activities to the BIC Ecriture 2000-Marne la Vallée (France) and BIC Bizerte (Tunisia) sites.
This project is consistent with BIC's Stationery Operational Excellence strategy, aimed at refocusing French factories on large-scale production and specializing the Bizerte factory for both high complexity production for the European market and on mass production for Africa and the Middle East.
Contacts
| Investor Relations: +33 1 45 19 52 26 | Press Contacts |
| Sophie Palliez-Capian sophie.palliez@bicworld.com | Albane de La Tour d'Artaise +33 1 45 19 52 00 Albane.DeLaTourD'Artaise@bicworld.com |
| Michèle Ventura michele.ventura@bicworld.com | Isabelle de Segonzac: +33 6 89 87 61 39 isegonzac@image7.fr |
For more information, please consult the corporate website: www.bicworld.com
2019 Agenda (all dates to be confirmed)
| Full Year 2018 results | 13 February 2019 | Meeting - BIC Headquarters |
| First Quarter 2019 results | 25 April 2019 | Conference call |
| 2019 AGM | 22 May 2019 | Meeting - BIC Headquarters |
About BIC
BIC is a world leader in stationery, lighters and shavers. For more than 70 years, BIC has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication BIC has become one of the most recognized brands and is a trademark registered worldwide for identifying BIC products which are sold in more than 160 countries around the world. 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. BIC is also part of the following Socially Responsible Investment indexes: CDP's "Leadership Level" (A-) and "Leadership Level" for the additional "Supplier" module, Euronext Vigeo - Eurozone 120, Euronext Vigeo - Europe 120, FTSE4Good indexes, Ethibel Pioneer and Ethibel Excellence Investment Registers, Ethibel Sustainability Index (ESI) Excellence Europe, Stoxx Global ESG Leaders Index.
