BIC Group - Press Release
Clichy - 09 December 2015
BIC INCREASES ITS OWNERSHIP IN CELLO PENS IN INDIA TO 100%
BIC Group today announces that Cello Group has sold to BIC its remaining equity participation in Cello Pens, allowing BIC to increase its stake in Cello Pens to 100% for an amount of 5.4 bn INR (approximately 74 million euros[1]).
India is one of the largest and fastest growing stationery markets in the world, driven by increasing consumer purchasing power and literacy rate. Founded in 1995, Cello Pens is the country's largest manufacturer and distributor of Writing Instruments benefiting from a broad portfolio of quality products and a countrywide, as well as international, distribution network.
Combining the N°2 stationery worldwide leader and the N°1 Indian Writing Instrument manufacturer, this acquisition will help to accelerate Cello Pens growth in India and support its integration within the BIC Stationery Category, with a focus on investing in local manufacturing, safety, and quality.
Bruno Bich, BIC Chairman of the Board said: "Moving to 100% ownership in Cello Pens is an opportunity to reinforce our position as India's number 1 Writing Instrument brand and to further BIC's development in Asia. We are confident in Cello Pens' multicultural management team's abilities to leverage the strong asset that is the Cello brand, driving toward strong mid and long term growth potential".
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 26 albane.deLaTourDArtaise@bicworld.com |
| Katy Bettach Katy.bettach@bicworld.com | Priscille Reneaume : +33 1 53 70 74 70 preneaume@image7.fr |
| Isabelle de Segonzac : +33 1 53 70 74 70 isegonzac@image7.fr |
For more information, please consult the corporate website: www.bicworld.com
2016 Agenda (all dates to be confirmed)
| FY 2015 results | 17 February 2016 | Meeting - BIC Headquarters |
| 1st Quarter 2016 results | 27 April 2016 | Conference call |
| 2016 AGM | 18 May 2016 | Meeting - BIC Headquarters |
| 2nd Quarter and 1st Half 2016 results | 4 August 2016 | Conference call |
| 3rd Quarter 2016 results | 26 October 2016 | Conference call |
About BIC
BIC is a world leader in stationery, lighters, shavers and promotional products. For more than 60 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 in the world. BIC products are sold in more than 160 countries around the world. In 2014, BIC recorded Net Sales of 1,979.1 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 SRI indexes: Carbon Disclosure Leadership Index (CDLI), FTSE4Good Europe, Euronext Vigeo Europe 120, Ethibel Sustainability Excellence Europe, STOXX ESG Leaders and Gaia Index.
