BIC Acquires Djeep to Enhance its Leadership in the Global Pocket Lighters Market
FOR IMMEDIATE RELEASEBIC Acquires Djeep to Enhance its Leadership in the Global Pocket Lighters MarketClichy, France -16 June 2020 – BIC announced today that it has signed an agreement to enter exclusive negotiations to acquire Djeep for 40 million euros, and a deferred consideration based on Djeep future sales growth1. This acquisition project aims at strengthening BIC’s position in the pocket lighters market and offers substantial growth opportunities in Europe and North America. Closing of the acquisition is expected during the third quarter of 2020.Founded in 1973, Djeep is one of the main manufacturers of quality lighters and operates in Brittany, France. It achieved 14 million euros in Net Sales in 2019, mostly in Europe. Djeep also distributes its products in the U.S., Latin America, Middle East, Africa, and Asia. It has become a key supplier to the decorated lighters market segment thanks to its large tank shape.“The acquisition of Djeep will strengthen BIC’s leadership in safety-compliant branded pocket lighters. With their unique shape, Djeep lighters are a strong addition to BIC’s existing portfolio. The combination of Djeep’s creative product design and on-demand production skills with BIC’s iconic lighters and long production runs model will expand both companies’ innovation, marketing, and global manufacturing capabilities.” noted Gonzalve Bich, BIC Chief Executive Officer.This acquisition will: ·Sustain growth by broadening BIC’s product portfolioDjeep lighters are renowned for their distinctive patented design that includes a large tank shape, flat push button, and high-quality sleeve design. Their compelling visual impression provides marketing opportunities in-line with BIC’s trade-up strategy and focus on personalization, adding new revenue streams. ·Enhance BIC’s high-quality and safety consumer value propositionAs it is the case for BIC, consumer safety has always been the top priority for Djeep management. As a result, this acquisition will strengthen BIC’s leadership in safety-compliant branded pocket lighters. ·Create long-term value through operational and commercial synergiesDjeep operational margins are close to BIC Lighter category’s level, and the combined strengths of Djeep and BIC will generate synergies, generating distribution and profitable growth opportunities for both in Europe, and North America. In addition, both organizations will be able to expand their product portfolios.ABOUT BICBIC is a world leader in stationery, lighters, and shavers. For more than 75 years, the Company 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. Today, BIC products are sold in more than 160 countries around the world and feature iconic brands such as Cello®, Conté®, BIC FlexTM, Lucky Stationery, Made For YOUTM, Soleil®, Tipp-Ex®, Wite-Out® and more. In 2019, BIC Net Sales were 1,949.4 million euros. The Company is listed on “Euronext Paris,” is part of the SBF120 and CAC Mid 60 indexes and is recognized for its commitment to sustainable development and education. It received an A- Leadership score from CDP. For more, visit www.bicworld.com or follow us on LinkedIn, Instagram, Twitter, or YouTube.CONTACTS2020 AGENDA – ALL DATES TO BE CONFIRMED
1 Pursuant to Section L23-10-1 of the French Code de Commerce (Hamon Law), the Djeep employees temporarily have the ability to make an offer to acquire the Company.AttachmentBIC_Djeep Acquisition_Press Release_16JUN20
