Haco Industries, Kenyan manufacturing company owned by businessman Chris Kirubi has decided to relinquish its manufacturing and distribution of BiC stationery and personal care products to French multinational Société BIC which owns the brand.
40 years of Haco’s BiC franchise will come to a close by January 1, 2019, in which Haco will receive an undisclosed amount.
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“My success is Kenya’s success and after nearly forty years of fruitful collaboration with BIC, and having built the business to become Kenya’s number one stationery manufacturer and distributor, this transaction is tangible proof of BIC’s confidence and belief in Kenya and the growth potential of the region,” Mr Kirubi said in a statement.
“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.”
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