AI assistant
Société Bic — M&A Activity 2017
Jun 6, 2017
1147_iss_2017-06-06_e970384c-ce42-4012-820f-4dff14cf09d3.pdf
M&A Activity
Open in viewerOpens in your device viewer
BIC GROUP – PRESS RELEASE CLICHY – 06 JUNE 2017
COMPLETION OF BIC GRAPHIC STRATEGIC REVIEW
BIC Group announces today that it has signed an Asset and Share Purchase Agreement to sell its BIC Graphic North America and Asian Sourcing operations to H.I.G. Capital, a global U.S. private equity firm, for 80 million USD (approximately 71 million EUR1 ). This includes 70 million USD in cash and 10 million USD through a sixyear subordinated note bearing a 7% per annum capitalized interest. The closing is expected by 30-June-2017.
On 7 February 2017, BIC had announced that BIC Graphic Europe will be reporting to the European BIC Consumer Product management. A plan focused on implementing a sustainable business model has been approved and will lead to the discontinuation of Norwood's activity (Hard Goods) in Europe. In Developing Markets, BIC Graphic operations will report to their respective country's Consumer Product management.
This completes the strategic alternatives review, initiated in February 2016, for BIC Graphic, BIC's Advertising and Promotional Products activity.
CONTACTS
Investor Relations: +33 1 45 19 52 26 Press Contacts Sophie Palliez-Capian [email protected] Katy Bettach [email protected]
Priscille Reneaume: +33 1 53 70 74 70 [email protected]
For more information, please consult the corporate website: www.bicworld.com
2017 AGENDA (ALL DATES TO BE CONFIRMED)
| Second Quarter – First Half 2017 results | 03 August 2017 | Conference call |
|---|---|---|
| Third Quarter results | 25 October 2017 | 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 2016, BIC recorded Net Sales of 2,025.8 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 Climate A List, CDP's Supplier Climate A List, CDP Supplier Engagement Leader Board, FTSE4Good indexes, Ethibel Sustainability Index (ESI) Excellence Europe, Euronext Vigeo – Eurozone 120, Euronext Vigeo – Europe 120, Stoxx Global ESG Leaders Index.
1 1 EUR: 1.1249 USD (ECB reference rate – 05 June 2017)