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BY CORRESPONDENT,NAIROBI,31ST AUG 2018-Haco Industries Kenya Ltd and Societe BIC have signed an agreement for the transfer of manufacturing facilities and distribution of BIC products to SOCIETE BIC.
Speaking during the transfer on Friday Haco Industries Chairman Dr Chris Kirubi said the transfer would result in Societe Bic taking over the manufacturing and distribution of stationery, lighters and shavers from Haco.
“I am proud of what Haco did with this brand. We were able to make Bic Kenya’s leading stationery manufacturer and distributor. I welcome this move and I am confident that Societe BIC will make the brand even bigger,” Dr Kirubi said.
BIC’s head of Middle East, Africa and India Peter Vandenbroeck said the move is in line with the company’s continued growth strategy in Africa with the hope of generating value for all their stakeholders even as they plan to fully integrate the business into the BIC Group.
The transfer is however subject to approval by Competition Authority of Kenya, which should be completed by January 1 2019.
“Until the completion of the transfer, BIC and HACO will continue to work together for the mutual benefit of all stakeholders and the respective businesses to achieve a smooth transition,” he added.
Haco industries has been in operation for close to four decades.