World's leading ballpoint pens manufacturer terminates 40-year partnership with Kenyan firm

The transfer is subject to approval by the Competition Authority of Kenya.

This will effectively see Haco Industries relinquish its manufacturing and distribution of BIC stationery and personal care products to the multinational company.

Haco Industries Chairman Chris Kirubi said the move will be positive for both the company and Kenya, as manufacturing remains in the country and Haco gets the opportunity to diversify and expand its business.

“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,”Haco Industries Chairman Dr Chris Kirubi said on Friday.

Subject to approval

The move is likely to eat into Haco's earnings whose annual net sales are known to stand above Sh1 billion.

The transfer is expected to be completed by  January 1, 2019, subject to approval by the Competition Authority of Kenya.

“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,” Mr Kirubi added.

The deal will bring to an end nearly 40 years of Haco’s BIC franchise.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job